Comcast Co. (NASDAQ:CMCSA) Position Reduced by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lowered its position in Comcast Co. (NASDAQ:CMCSA) by 26.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 392,937 shares of the cable giant’s stock after selling 142,882 shares during the period. Comcast makes up about 1.9% of Sawgrass Asset Management LLC’s portfolio, making the stock its 8th largest position. Sawgrass Asset Management LLC’s holdings in Comcast were worth $17,230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC increased its holdings in Comcast by 94.1% in 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 in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Comcast in the fourth quarter valued at about $34,000. Lipe & Dalton acquired a new stake in shares of Comcast in the fourth quarter valued at about $37,000. Valued Wealth Advisors LLC acquired a new stake in shares of Comcast in the fourth quarter valued at about $44,000. Finally, Legacy Bridge LLC grew its position in shares of Comcast by 358.7% in the fourth quarter. Legacy Bridge LLC now owns 1,055 shares of the cable giant’s stock valued at $46,000 after purchasing an additional 825 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. BNP Paribas reissued a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Comcast from $55.00 to $53.00 in a research note on Friday, April 5th. Oppenheimer reiterated an “outperform” rating and set a $55.00 price target on shares of Comcast in a research report on Wednesday, April 3rd. Benchmark restated a “buy” rating and issued a $55.00 price objective on shares of Comcast in a report on Wednesday, April 10th. Finally, Scotiabank dropped their price objective on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.60.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.56 on Wednesday, reaching $39.05. 21,618,699 shares of the company were exchanged, compared to its average volume of 21,088,303. The company has a current ratio of 0.59, a quick 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. The firm has a market cap of $153.22 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 0.97 and a beta of 0.99. The company has a 50-day moving average of $41.11 and a 200-day moving average of $42.29.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. Equities analysts forecast that Comcast Co. will post 4.21 earnings per share for the current fiscal year.

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.