First Citizens Bank & Trust Co. Sells 12,029 Shares of Comcast Co. (NASDAQ:CMCSA)

First Citizens Bank & Trust Co. lessened its position in shares of Comcast Co. (NASDAQ:CMCSA) by 11.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 93,782 shares of the cable giant’s stock after selling 12,029 shares during the period. First Citizens Bank & Trust Co.’s holdings in Comcast were worth $3,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB raised its holdings in shares of Comcast by 55,334.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 8,273,052 shares of the cable giant’s stock valued at $345,565,000 after purchasing an additional 8,258,128 shares during the period. FMR LLC increased its position in Comcast by 5.4% in the 3rd quarter. FMR LLC now owns 117,420,328 shares of the cable giant’s stock valued at $4,904,647,000 after buying an additional 6,062,658 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Comcast by 530.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,429,298 shares of the cable giant’s stock worth $143,242,000 after buying an additional 2,885,370 shares during the period. SG Americas Securities LLC boosted its holdings in Comcast by 211.7% in the third quarter. SG Americas Securities LLC now owns 2,890,571 shares of the cable giant’s stock worth $120,739,000 after acquiring an additional 1,963,246 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Comcast by 31.7% during the third quarter. National Bank of Canada FI now owns 7,613,977 shares of the cable giant’s stock valued at $318,036,000 after acquiring an additional 1,833,453 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Macquarie reissued a “neutral” rating and issued a $42.00 price target on shares of Comcast in a research report on Monday, January 6th. TD Cowen decreased their target price on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Morgan Stanley cut shares of Comcast from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $48.00 to $45.00 in a research report on Monday, December 16th. Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price objective on shares of Comcast in a report on Wednesday, November 6th. Finally, Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $47.75 to $48.00 in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $47.33.

Insider Activity

In other Comcast news, CEO Brian L. Roberts sold 234,464 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were 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 owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael J. Cavanagh sold 25,537 shares of the company’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 transaction, 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 disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Price Performance

CMCSA stock opened at $37.62 on Monday. The firm has a 50 day moving average of $39.31 and a 200-day moving average of $40.16. The firm has a market capitalization of $143.95 billion, a P/E ratio of 10.11, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 12 month low of $36.15 and a 12 month high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. The company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.08 earnings per share. As a group, sell-side analysts predict that Comcast Co. will post 4.25 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.