Precedent Wealth Partners LLC Sells 426 Shares of Comcast Co. (NASDAQ:CMCSA)

Precedent Wealth Partners LLC cut its position in Comcast Co. (NASDAQ:CMCSA) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,004 shares of the cable giant’s stock after selling 426 shares during the quarter. Precedent Wealth Partners LLC’s holdings in Comcast were worth $826,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CMCSA. Winch Advisory Services LLC raised its position in shares of Comcast by 269.9% in the fourth quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 502 shares during the period. Safe Harbor Fiduciary LLC bought a new position in Comcast in the 3rd quarter valued at about $30,000. McClarren Financial Advisors Inc. lifted its position in Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after acquiring an additional 570 shares during the last quarter. Iron Horse Wealth Management LLC grew its position in shares of Comcast by 220.3% in the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 522 shares during the last quarter. Finally, Dunhill Financial LLC increased its stake in shares of Comcast by 54.8% during the third quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock worth $34,000 after purchasing an additional 288 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley lowered Comcast from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $48.00 to $45.00 in a report on Monday, December 16th. KeyCorp lifted their price objective on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen reduced their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, StockNews.com raised Comcast from a “buy” rating to a “strong-buy” rating in a report on Friday, January 17th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Comcast currently has a consensus rating of “Moderate Buy” and an average target price of $47.33.

Comcast Stock Performance

NASDAQ CMCSA opened at $37.62 on Friday. Comcast Co. has a fifty-two week low of $36.15 and a fifty-two week high of $47.11. The stock has a market cap of $143.95 billion, a PE ratio of 10.11, a PEG ratio of 1.35 and a beta of 1.01. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. The firm’s fifty day moving average price is $39.31 and its two-hundred day moving average price is $40.14.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts expect that Comcast Co. will post 4.25 EPS for the current fiscal year.

Insider Activity at Comcast

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the stock in a transaction that occurred on 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 completion of the sale, the president now owns 534,849 shares of the company’s stock, valued at approximately $22,779,218.91. This represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This trade represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Comcast Company Profile

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.