Comcast Co. (NASDAQ:CMCSA) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,024 shares of the cable giant’s stock after selling 2,986 shares during the period. Chemung Canal Trust Co.’s holdings in Comcast were worth $414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. World Investment Advisors LLC grew its holdings in shares of Comcast by 904.0% during the third quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock valued at $10,632,000 after buying an additional 229,192 shares during the last quarter. Tidal Investments LLC grew its stake in Comcast by 15.2% during the 3rd quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock valued at $7,161,000 after purchasing an additional 22,684 shares during the last quarter. Parnassus Investments LLC increased its holdings in shares of Comcast by 3.7% in the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after purchasing an additional 68,139 shares during the period. Douglas Lane & Associates LLC increased its holdings in shares of Comcast by 0.7% in the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after purchasing an additional 15,807 shares during the period. Finally, Kestra Investment Management LLC purchased a new position in shares of Comcast in the third quarter worth about $2,541,000. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Insiders Place Their Bets

In other Comcast news, President Michael J. Cavanagh sold 25,537 shares of the 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 directly owns 534,849 shares in the company, valued at $22,779,218.91. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of Comcast stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. Macquarie reaffirmed a “neutral” rating and set a $42.00 target price on shares of Comcast in a report on Monday, January 6th. Morgan Stanley cut Comcast from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $48.00 to $45.00 in a research report on Monday, December 16th. Pivotal Research upped their price objective on Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, StockNews.com raised shares of Comcast from a “buy” rating to a “strong-buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Comcast currently has a consensus rating of “Moderate Buy” and an average target price of $47.33.

Comcast Price Performance

CMCSA opened at $37.62 on Friday. The firm has a market cap of $143.95 billion, a price-to-earnings ratio of 10.11, a PEG 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. The stock’s 50-day moving average price is $39.42 and its 200 day moving average price is $40.14. Comcast Co. has a 12-month low of $36.15 and a 12-month high of $47.11.

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

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.