Parsons Capital Management Inc. RI Sells 12,994 Shares of Comcast Co. (NASDAQ:CMCSA)

Parsons Capital Management Inc. RI lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 10.0% in the fourth quarter, HoldingsChannel reports. The fund owned 116,921 shares of the cable giant’s stock after selling 12,994 shares during the period. Parsons Capital Management Inc. RI’s holdings in Comcast were worth $4,388,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMCSA. Winch Advisory Services LLC increased its holdings in Comcast by 269.9% during the 4th 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. McClarren Financial Advisors Inc. increased its holdings in Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 570 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in Comcast during the 3rd quarter valued at about $30,000. Iron Horse Wealth Management LLC increased its holdings in Comcast by 220.3% during the 3rd 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 period. Finally, Dunhill Financial LLC increased its holdings in Comcast by 54.8% during the 3rd quarter. Dunhill Financial LLC now owns 814 shares of the cable giant’s stock valued at $34,000 after purchasing an additional 288 shares during the period. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CMCSA shares. Rosenblatt Securities reiterated a “neutral” rating and set a $45.00 target price on shares of Comcast in a report on Wednesday, November 6th. Seaport Res Ptn upgraded Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Pivotal Research upped their price target on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com upgraded Comcast from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. Finally, Morgan Stanley cut Comcast from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $48.00 to $45.00 in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.33.

Comcast Stock Up 1.5 %

Shares of NASDAQ CMCSA opened at $38.19 on Monday. 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 has a market cap of $146.14 billion, a P/E ratio of 10.12, a PEG ratio of 1.35 and a beta of 1.01. Comcast Co. has a 1 year low of $36.15 and a 1 year high of $47.11. The firm has a 50-day simple moving average of $39.31 and a two-hundred day simple moving average of $40.18.

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

Insider Activity

In related news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the transaction, the chief executive officer now directly owns 6,669,928 shares of the company’s stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now directly owns 534,849 shares of the company’s stock, valued at $22,779,218.91. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

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.