First Interstate Bank Lowers Stock Position in Comcast Co. (NASDAQ:CMCSA)

First Interstate Bank cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,021 shares of the cable giant’s stock after selling 930 shares during the period. First Interstate Bank’s holdings in Comcast were worth $509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CMCSA. Geode Capital Management LLC grew its position in Comcast by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 63,699,503 shares of the cable giant’s stock valued at $2,165,450,000 after buying an additional 5,992,911 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Comcast by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 53,579,451 shares of the cable giant’s stock valued at $1,824,544,000 after buying an additional 326,417 shares during the last quarter. Boston Partners grew its position in Comcast by 7.8% in the 1st quarter. Boston Partners now owns 34,296,383 shares of the cable giant’s stock valued at $1,371,169,000 after buying an additional 2,472,741 shares during the last quarter. Veritas Asset Management LLP lifted its holdings in Comcast by 1.6% in the first quarter. Veritas Asset Management LLP now owns 19,648,649 shares of the cable giant’s stock valued at $785,553,000 after acquiring an additional 305,831 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Comcast by 67.5% in the first quarter. Nordea Investment Management AB now owns 17,274,883 shares of the cable giant’s stock valued at $690,651,000 after acquiring an additional 6,960,677 shares during the period. Institutional investors and hedge funds own 82.85% of the company’s stock.

CMCSA traded up $0.70 during midday trading on Monday, hitting $43.88. The company’s stock had a trading volume of 188,758 shares, compared to its average volume of 17,734,466. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.30. The firm has a market cap of $199.33 billion, a P/E ratio of 17.20, a PEG ratio of 1.16 and a beta of 1.08. The firm has a 50-day moving average price of $43.42 and a two-hundred day moving average price of $41.42. Comcast Co. has a 52-week low of $32.61 and a 52-week high of $45.29.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 25th. The cable giant reported $0.78 EPS for the quarter, beating the consensus estimate of $0.75 by $0.03. The company had revenue of $26.86 billion during the quarter, compared to analysts’ expectations of $27.08 billion. Comcast had a return on equity of 17.50% and a net margin of 11.64%. The firm’s revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS. On average, equities analysts expect that Comcast Co. will post 3.07 EPS for the current year.

In other Comcast news, SVP Daniel C. Murdock sold 1,701 shares of Comcast stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $41.46, for a total value of $70,523.46. Following the completion of the sale, the senior vice president now owns 4,712 shares in the company, valued at approximately $195,359.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.35% of the stock is owned by insiders.

A number of research firms have commented on CMCSA. Rosenblatt Securities began coverage on Comcast in a report on Friday, June 14th. They issued a “buy” rating and a $50.00 target price for the company. Macquarie began coverage on Comcast in a report on Wednesday, June 19th. They issued a “buy” rating and a $50.00 target price for the company. Barclays raised their target price on Comcast from $44.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Raymond James downgraded Comcast from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $25.00 to $21.00 in a report on Friday, June 14th. Finally, Pivotal Research reissued a “buy” rating and issued a $54.00 target price on shares of Comcast in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $45.44.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

Further Reading: What is the 52-week high/low?

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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