RBA Wealth Management LLC Lowers Stock Position in Comcast Co. (NASDAQ:CMCSA)

RBA Wealth Management LLC reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 93.2% during the third quarter, HoldingsChannel reports. The firm owned 7,093 shares of the cable giant’s stock after selling 96,957 shares during the period. RBA Wealth Management LLC’s holdings in Comcast were worth $296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Global Assets Advisory LLC purchased a new position in shares of Comcast during the first quarter worth approximately $1,809,000. Strategic Planning Group LLC raised its stake in shares of Comcast by 6.3% during the first quarter. Strategic Planning Group LLC now owns 5,693 shares of the cable giant’s stock worth $247,000 after acquiring an additional 338 shares in the last quarter. Austin Private Wealth LLC raised its stake in shares of Comcast by 5.7% during the first quarter. Austin Private Wealth LLC now owns 7,784 shares of the cable giant’s stock worth $323,000 after acquiring an additional 421 shares in the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of Comcast by 17.3% during the first quarter. Gilman Hill Asset Management LLC now owns 6,121 shares of the cable giant’s stock worth $265,000 after acquiring an additional 902 shares in the last quarter. Finally, Fermata Advisors LLC raised its stake in shares of Comcast by 36.1% during the first quarter. Fermata Advisors LLC now owns 9,756 shares of the cable giant’s stock worth $423,000 after acquiring an additional 2,588 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Stock Up 2.8 %

Shares of CMCSA stock traded up $1.12 during mid-day trading on Tuesday, reaching $41.65. 12,824,230 shares of the company’s stock traded hands, compared to its average volume of 19,540,867. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The company has a market cap of $163.42 billion, a P/E ratio of 10.72, a P/E/G ratio of 1.10 and a beta of 1.01. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $40.34 and its 200-day moving average price is $39.43.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. The firm had revenue of $29.69 billion for the quarter, compared to analysts’ expectations of $30.02 billion. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.13 EPS. On average, equities analysts expect that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several analyst reports. Scotiabank lifted their target price on shares of Comcast from $47.25 to $47.75 and gave the stock a “sector perform” rating in a research note on Friday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. Evercore ISI decreased their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and a consensus price target of $45.58.

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.