Palumbo Wealth Management LLC Lowers Stake in Comcast Co. (NASDAQ:CMCSA)

Palumbo Wealth Management LLC trimmed its holdings in Comcast Co. (NASDAQ:CMCSA) by 2.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 12,609 shares of the cable giant’s stock after selling 286 shares during the period. Palumbo Wealth Management LLC’s holdings in Comcast were worth $527,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Capital World Investors raised its position in Comcast by 7.4% during the 1st quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock worth $5,015,737,000 after buying an additional 7,929,963 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Comcast by 2.7% during the second quarter. Dimensional Fund Advisors LP now owns 38,329,384 shares of the cable giant’s stock worth $1,500,722,000 after purchasing an additional 1,000,626 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Comcast by 41.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock valued at $1,214,512,000 after purchasing an additional 8,243,302 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in Comcast by 25,881.7% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after purchasing an additional 10,809,231 shares during the period. Finally, First Pacific Advisors LP raised its stake in shares of Comcast by 2.1% during the 2nd quarter. First Pacific Advisors LP now owns 10,818,009 shares of the cable giant’s stock worth $423,633,000 after buying an additional 219,894 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Up 2.3 %

Shares of CMCSA stock traded up $0.97 during mid-day trading on Thursday, reaching $43.21. The company’s stock had a trading volume of 8,551,074 shares, compared to its average volume of 19,524,934. The company’s 50 day simple moving average is $40.64 and its 200-day simple moving average is $39.52. 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 12-month low of $36.43 and a 12-month high of $47.11. The firm has a market capitalization of $169.54 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Scotiabank increased their target price on shares of Comcast from $47.25 to $47.75 and gave the company a “sector perform” rating in a report on Friday, October 18th. KeyCorp reduced their price objective on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Macquarie reissued a “neutral” rating and issued a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. Barclays decreased their price objective on shares of Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, Pivotal Research dropped their target price on shares of Comcast from $48.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.