Comcast (NASDAQ:CMCSA) had its price target hoisted by equities researchers at Bank of America from $50.00 to $54.00 in a research note issued on Thursday. The firm presently has a “buy” rating on the cable giant’s stock. Bank of America’s target price suggests a potential upside of 28.14% from the stock’s current price.
Several other research analysts have also issued reports on the stock. Pivotal Research upped their target price on shares of Comcast from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Barclays cut their target price on shares of Comcast from $44.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, October 27th. Morgan Stanley upped their target price on shares of Comcast from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Wells Fargo & Co reiterated a “buy” rating and issued a $49.00 target price on shares of Comcast in a research report on Monday, October 23rd. Finally, Robert W. Baird reiterated a “buy” rating and issued a $43.00 target price on shares of Comcast in a research report on Friday, November 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $47.25.
Comcast (NASDAQ CMCSA) traded down $0.85 on Thursday, hitting $42.14. 27,799,089 shares of the stock were exchanged, compared to its average volume of 21,980,000. The stock has a market cap of $196,950.00, a price-to-earnings ratio of 8.82, a P/E/G ratio of 1.80 and a beta of 1.00. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.74 and a quick ratio of 0.74. Comcast has a 12-month low of $34.78 and a 12-month high of $44.00.
In related news, EVP Arthur R. Block sold 5,630 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $39.89, for a total value of $224,580.70. Following the completion of the transaction, the executive vice president now directly owns 71,664 shares of the company’s stock, valued at $2,858,676.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Brian L. Roberts sold 583,835 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.67, for a total transaction of $22,576,899.45. Following the completion of the transaction, the chairman now directly owns 1,711,798 shares of the company’s stock, valued at $66,195,228.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 593,402 shares of company stock valued at $22,961,401. Insiders own 1.28% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC bought a new position in Comcast in the third quarter worth about $104,000. Clear Perspective Advisors LLC raised its stake in Comcast by 100.1% in the second quarter. Clear Perspective Advisors LLC now owns 2,722 shares of the cable giant’s stock worth $106,000 after buying an additional 1,362 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in Comcast in the second quarter worth about $107,000. Tower View Investment Management & Research LLC purchased a new stake in Comcast in the fourth quarter worth about $109,000. Finally, First Bank & Trust grew its holdings in Comcast by 84.9% in the second quarter. First Bank & Trust now owns 2,836 shares of the cable giant’s stock worth $111,000 after purchasing an additional 1,302 shares during the period. 82.26% of the stock is owned by institutional investors.
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About Comcast
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
