SouthState Corp Trims Stock Position in Comcast Co. (NASDAQ:CMCSA)

SouthState Corp decreased its position in shares of Comcast Co. (NASDAQ:CMCSA) by 2.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 89,039 shares of the cable giant’s stock after selling 1,892 shares during the period. SouthState Corp’s holdings in Comcast were worth $3,904,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. NewSquare Capital LLC lifted its stake in shares of Comcast by 94.1% during the third quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock valued at $28,000 after buying an additional 302 shares during the period. Leith Wheeler Investment Counsel Ltd. raised its stake in Comcast by 299.1% during the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock worth $28,000 after purchasing an additional 475,675 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in Comcast during the fourth quarter worth approximately $34,000. Lipe & Dalton purchased a new position in Comcast during the fourth quarter worth approximately $37,000. Finally, Valued Wealth Advisors LLC purchased a new position in Comcast during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Trading Up 0.4 %

Shares of Comcast stock traded up $0.16 during trading on Thursday, hitting $38.36. The stock had a trading volume of 16,653,346 shares, compared to its average volume of 20,813,316. The stock has a 50 day simple moving average of $41.39 and a 200 day simple moving average of $42.44. The company has a market capitalization of $152.36 billion, a PE ratio of 10.12, a P/E/G ratio of 0.95 and a beta of 0.99. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.46.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. The business had revenue of $30.06 billion for the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. On average, research analysts expect that Comcast Co. will post 4.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CMCSA shares. Citigroup cut their price target on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company cut their price target on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price target on shares of Comcast in a research note on Wednesday, April 3rd. Redburn Atlantic downgraded shares of Comcast from a “buy” rating to a “neutral” rating and cut their price target for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Finally, StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 22nd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Comcast currently has an average rating of “Moderate Buy” and a consensus price target of $49.60.

About Comcast

Comcast Corporation operates as a media and technology company worldwide. It operates through Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios, and Theme Parks segments. The Residential Connectivity & Platforms segment provides residential broadband and wireless connectivity services, residential and business video services, sky-branded entertainment television networks, and advertising.