Sawgrass Asset Management LLC Decreases Holdings in Comcast Co. (NASDAQ:CMCSA)

Sawgrass Asset Management LLC trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 26.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 392,937 shares of the cable giant’s stock after selling 142,882 shares during the period. Comcast comprises approximately 1.9% of Sawgrass Asset Management LLC’s portfolio, making the stock its 8th largest position. Sawgrass Asset Management LLC’s holdings in Comcast were worth $17,230,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Greenwich Wealth Management LLC increased its position in shares of Comcast by 2.6% during the fourth quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after acquiring an additional 219 shares during the last quarter. Legend Financial Advisors Inc. raised its holdings in Comcast by 17.5% in the fourth quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock valued at $65,000 after acquiring an additional 220 shares in the last quarter. Beaumont Asset Management L.L.C. boosted its stake in Comcast by 1.6% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock valued at $620,000 after acquiring an additional 226 shares during the last quarter. Keystone Financial Services increased its position in shares of Comcast by 1.1% in the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock worth $896,000 after purchasing an additional 229 shares during the last quarter. Finally, Forum Financial Management LP raised its stake in shares of Comcast by 0.4% in the 3rd quarter. Forum Financial Management LP now owns 57,388 shares of the cable giant’s stock valued at $2,545,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Evercore ISI reissued an “outperform” rating and set a $50.00 target price on shares of Comcast in a research note on Tuesday, March 26th. BNP Paribas reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a report on Tuesday, April 9th. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of Comcast in a research report on Wednesday, April 10th. Citigroup reduced their target price on Comcast from $53.00 to $48.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Comcast from $55.00 to $53.00 in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.60.

Comcast Price Performance

NASDAQ CMCSA traded up $0.56 during trading hours on Wednesday, hitting $39.05. The company had a trading volume of 21,618,699 shares, compared to its average volume of 21,088,303. The firm has a 50 day simple moving average of $41.11 and a 200 day simple moving average of $42.29. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.46. The firm has a market capitalization of $153.22 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.97 and a beta of 0.99. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Comcast had a return on equity of 20.10% and a net margin of 12.64%. The business had revenue of $30.06 billion for the quarter, compared to analyst estimates of $29.83 billion. During the same period in the prior year, the company earned $0.92 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that Comcast Co. will post 4.21 earnings per share for the current 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.