Comcast Co. (NASDAQ:CMCSA) Position Increased by Red Door Wealth Management LLC

Red Door Wealth Management LLC raised its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 18.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,244 shares of the cable giant’s stock after purchasing an additional 1,615 shares during the quarter. Red Door Wealth Management LLC’s holdings in Comcast were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Fred Alger Management LLC boosted its stake in Comcast by 5.6% in the 2nd quarter. Fred Alger Management LLC now owns 129,580 shares of the cable giant’s stock worth $5,074,000 after purchasing an additional 6,818 shares during the period. MBB Public Markets I LLC acquired a new position in Comcast in the 2nd quarter worth approximately $11,075,000. The Manufacturers Life Insurance Company boosted its stake in Comcast by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,338,254 shares of the cable giant’s stock worth $169,886,000 after purchasing an additional 159,194 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Comcast in the 2nd quarter worth approximately $3,587,000. Finally, Kathmere Capital Management LLC boosted its stake in Comcast by 18.0% in the 2nd quarter. Kathmere Capital Management LLC now owns 13,174 shares of the cable giant’s stock worth $516,000 after purchasing an additional 2,010 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the transaction, the president now owns 534,849 shares in the company, valued at approximately $22,779,218.91. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the transaction, the chief executive officer now owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Stock Performance

Shares of CMCSA opened at $37.62 on Friday. The company has a market capitalization of $143.95 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. Comcast Co. has a one year low of $36.15 and a one year high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $39.42 and its 200 day moving average price is $40.14.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 EPS. As a group, analysts expect that Comcast Co. will post 4.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on CMCSA shares. Pivotal Research raised their price objective on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the company from $47.75 to $48.00 in a research note on Friday, November 1st. Morgan Stanley lowered shares of Comcast from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $48.00 to $45.00 in a research note on Monday, December 16th. Finally, Macquarie reissued a “neutral” rating and set a $42.00 target price on shares of Comcast in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.33.

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.