The Goldman Sachs Group Lowers Comcast (NASDAQ:CMCSA) Price Target to $28.00

Comcast (NASDAQ:CMCSA) had its target price cut by equities research analysts at The Goldman Sachs Group from $30.00 to $28.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the cable giant’s stock. The Goldman Sachs Group’s target price would indicate a potential downside of 2.51% from the stock’s current price.

CMCSA has been the subject of several other research reports. Wall Street Zen upgraded shares of Comcast to a “hold” rating in a research report on Saturday, March 14th. Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research report on Friday, February 20th. Benchmark reduced their target price on shares of Comcast from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Monday, January 5th. BNP Paribas Exane lowered shares of Comcast from a “neutral” rating to an “underperform” rating and set a $27.00 price target on the stock. in a research note on Tuesday, February 24th. Finally, Sanford C. Bernstein cut their price target on Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, January 15th. Ten analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $34.76.

Comcast Stock Down 0.0%

Shares of Comcast stock opened at $28.72 on Wednesday. Comcast has a twelve month low of $25.75 and a twelve month high of $37.63. The stock has a market capitalization of $103.33 billion, a price-to-earnings ratio of 5.35, a PEG ratio of 2.26 and a beta of 0.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. The business’s 50 day simple moving average is $30.30 and its 200-day simple moving average is $29.59.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, January 29th. The cable giant reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $32.31 billion during the quarter, compared to the consensus estimate of $32.35 billion. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 EPS. Equities research analysts forecast that Comcast will post 4.33 earnings per share for the current year.

Insider Transactions at Comcast

In other Comcast news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the transaction, the chief executive officer owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Comcast by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock worth $11,038,712,000 after purchasing an additional 2,160,829 shares during the period. State Street Corp increased its position in shares of Comcast by 3.4% during the 4th quarter. State Street Corp now owns 186,805,081 shares of the cable giant’s stock valued at $5,583,604,000 after purchasing an additional 6,117,946 shares during the period. Capital World Investors increased its position in shares of Comcast by 20.8% during the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant’s stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares during the period. Dodge & Cox raised its stake in shares of Comcast by 0.4% in the 4th quarter. Dodge & Cox now owns 112,967,514 shares of the cable giant’s stock worth $3,376,599,000 after buying an additional 399,596 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Comcast in the second quarter valued at $3,528,361,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.