Provence Wealth Management Group Trims Stock Position in Comcast Co. (NASDAQ:CMCSA)

Provence Wealth Management Group lowered its position in shares of Comcast Co. (NASDAQ:CMCSA) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,204 shares of the cable giant’s stock after selling 687 shares during the period. Provence Wealth Management Group’s holdings in Comcast were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CMCSA. VeraBank N.A. boosted its stake in Comcast by 3.7% during the fourth quarter. VeraBank N.A. now owns 7,742 shares of the cable giant’s stock worth $339,000 after buying an additional 275 shares during the period. Legacy Financial Advisors Inc. boosted its position in shares of Comcast by 5.7% during the 4th quarter. Legacy Financial Advisors Inc. now owns 45,341 shares of the cable giant’s stock worth $1,988,000 after purchasing an additional 2,456 shares during the period. Sapient Capital LLC acquired a new stake in Comcast in the 4th quarter valued at approximately $1,711,000. Axxcess Wealth Management LLC raised its position in Comcast by 10.5% in the fourth quarter. Axxcess Wealth Management LLC now owns 115,503 shares of the cable giant’s stock valued at $5,065,000 after purchasing an additional 10,936 shares during the period. Finally, LSV Asset Management lifted its stake in Comcast by 3.8% during the fourth quarter. LSV Asset Management now owns 15,688,650 shares of the cable giant’s stock worth $687,947,000 after purchasing an additional 570,050 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Comcast Stock Up 0.9 %

CMCSA stock traded up $0.33 during midday trading on Friday, reaching $38.69. 22,278,723 shares of the company were exchanged, compared to its average volume of 22,677,254. The stock’s 50-day simple moving average is $41.26 and its 200 day simple moving average is $42.38. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.46. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $153.67 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 0.97 and a beta of 0.99.

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

Analyst Ratings Changes

CMCSA has been the topic of several research analyst reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a report on Friday, April 26th. BNP Paribas reissued a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Tuesday, April 9th. Benchmark reissued a “buy” rating and issued a $55.00 price objective on shares of Comcast in a research note on Wednesday, April 10th. Wells Fargo & Company cut their target price on shares of Comcast from $47.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Redburn Atlantic cut shares of Comcast from a “buy” rating to a “neutral” rating and decreased their price target for the company from $50.00 to $44.00 in a research report on Thursday, February 15th. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $49.60.

About Comcast

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.