Investment Research & Advisory Group Inc. Trims Holdings in Comcast Co. (NASDAQ:CMCSA)

Investment Research & Advisory Group Inc. reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 98.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 795 shares of the cable giant’s stock after selling 56,014 shares during the quarter. Investment Research & Advisory Group Inc.’s holdings in Comcast were worth $33,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fairscale Capital LLC purchased a new stake in shares of Comcast during the 2nd quarter valued at approximately $26,000. McClarren Financial Advisors Inc. increased its stake in Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after acquiring an additional 570 shares during the last quarter. Iron Horse Wealth Management LLC raised its position in Comcast by 220.3% in the third quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 522 shares during the period. IAG Wealth Partners LLC lifted its stake in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the last quarter. Finally, Archer Investment Corp grew its holdings in shares of Comcast by 177.1% during the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $41.65 on Friday. The stock’s 50-day moving average is $40.44 and its two-hundred day moving average is $39.45. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $163.42 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last released its earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Comcast Co. will post 4.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several research analyst reports. KeyCorp reduced their price objective on shares of Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Macquarie restated a “neutral” rating and issued a $40.00 price objective on shares of Comcast in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Pivotal Research cut their target price on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.58.

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.