SouthState Corp Lowers Holdings in Comcast Co. (NASDAQ:CMCSA)

SouthState Corp lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in shares of Comcast by 39.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 10,065,475 shares of the cable giant’s stock valued at $446,303,000 after purchasing an additional 2,861,358 shares during the last quarter. Lord Abbett & CO. LLC grew its position in Comcast by 43.3% during the 3rd quarter. Lord Abbett & CO. LLC now owns 6,311,296 shares of the cable giant’s stock worth $279,843,000 after purchasing an additional 1,907,973 shares during the period. SG Americas Securities LLC grew its position in Comcast by 422.9% during the 4th quarter. SG Americas Securities LLC now owns 1,678,815 shares of the cable giant’s stock worth $73,616,000 after purchasing an additional 1,357,756 shares during the period. Bank of New York Mellon Corp grew its position in Comcast by 3.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 36,170,191 shares of the cable giant’s stock worth $1,603,786,000 after purchasing an additional 1,229,374 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Comcast by 35.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 4,689,476 shares of the cable giant’s stock worth $207,931,000 after purchasing an additional 1,227,469 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price target on shares of Comcast in a research report on Wednesday, April 3rd. Citigroup lowered their target price on shares of Comcast from $53.00 to $48.00 and set a “buy” rating on the stock in a research note on Monday. Benchmark reissued a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Wednesday, April 10th. Redburn Atlantic lowered shares of Comcast from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Comcast has an average rating of “Moderate Buy” and a consensus price target of $49.60.

Comcast Price Performance

CMCSA traded up $0.16 during trading on Thursday, reaching $38.36. The company’s stock had a trading volume of 16,653,346 shares, compared to its average volume of 20,813,316. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.13. The firm has a fifty day simple moving average of $41.39 and a two-hundred day simple moving average of $42.44. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.46. The company has a market cap of $152.36 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.95 and a beta of 0.99.

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 analysts’ consensus estimates of $0.98 by $0.06. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. During the same period last year, the company posted $0.92 EPS. The business’s revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Comcast Co. will post 4.21 EPS for the current year.

Comcast 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.