Bank of Stockton Reduces Stock Position in Comcast Co. (NASDAQ:CMCSA)

Bank of Stockton reduced its position in shares of Comcast Co. (NASDAQ:CMCSA) by 14.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,970 shares of the cable giant’s stock after selling 3,677 shares during the period. Bank of Stockton’s holdings in Comcast were worth $876,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CMCSA. Lake Street Advisors Group LLC lifted its holdings in Comcast by 1.4% in the third quarter. Lake Street Advisors Group LLC now owns 43,193 shares of the cable giant’s stock worth $1,804,000 after buying an additional 613 shares during the period. Tandem Capital Management Corp ADV lifted its holdings in Comcast by 79.7% in the third quarter. Tandem Capital Management Corp ADV now owns 50,999 shares of the cable giant’s stock worth $2,211,000 after buying an additional 22,615 shares during the period. Ballentine Partners LLC lifted its holdings in Comcast by 5.5% in the third quarter. Ballentine Partners LLC now owns 50,052 shares of the cable giant’s stock worth $2,091,000 after buying an additional 2,598 shares during the period. Element Wealth LLC lifted its holdings in shares of Comcast by 7.2% during the third quarter. Element Wealth LLC now owns 8,760 shares of the cable giant’s stock valued at $366,000 after purchasing an additional 591 shares during the last quarter. Finally, Nicholson Wealth Management Group LLC purchased a new position in shares of Comcast during the third quarter valued at approximately $675,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMCSA. Macquarie reiterated a “neutral” rating and set a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. Evercore ISI cut their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Barclays lowered their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Scotiabank boosted their price objective on Comcast from $47.25 to $47.75 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Finally, Pivotal Research lowered their price objective on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.58.

Comcast Trading Up 0.8 %

NASDAQ CMCSA traded up $0.32 during trading hours on Friday, hitting $41.97. 3,473,042 shares of the company were exchanged, compared to its average volume of 19,461,615. The stock has a 50-day moving average price of $40.48 and a 200 day moving average price of $39.47. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The stock has a market cap of $164.67 billion, a PE ratio of 11.11, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

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

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.