Sound Income Strategies LLC Sells 541 Shares of Comcast Co. (NASDAQ:CMCSA)

Sound Income Strategies LLC decreased its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 13.7% in the 4th quarter, Holdings Channel reports. The fund owned 3,404 shares of the cable giant’s stock after selling 541 shares during the quarter. Sound Income Strategies LLC’s holdings in Comcast were worth $128,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors LLC raised its stake in shares of Comcast by 904.0% in the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant’s stock valued at $10,632,000 after purchasing an additional 229,192 shares during the period. Tidal Investments LLC grew its holdings in shares of Comcast by 15.2% during the third quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant’s stock worth $7,161,000 after buying an additional 22,684 shares in the last quarter. Parnassus Investments LLC raised its position in Comcast by 3.7% in the 3rd quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after buying an additional 68,139 shares during the last quarter. Douglas Lane & Associates LLC lifted its stake in Comcast by 0.7% in the 3rd quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after acquiring an additional 15,807 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Comcast during the 3rd quarter worth approximately $2,541,000. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CMCSA. Macquarie reiterated a “neutral” rating and issued a $42.00 price objective on shares of Comcast in a report on Monday, January 6th. Barclays lifted their price target on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Pivotal Research increased their price objective on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Seaport Res Ptn raised Comcast from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 11th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Comcast presently has a consensus rating of “Moderate Buy” and an average price target of $47.33.

Comcast Stock Up 0.4 %

Comcast stock opened at $37.62 on Friday. The company’s 50-day moving average price is $39.31 and its two-hundred day moving average price is $40.14. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a market cap of $143.95 billion, a P/E ratio of 10.11, a P/E/G ratio of 1.35 and a beta of 1.01. Comcast Co. has a twelve month low of $36.15 and a twelve month high of $47.11.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. The company had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 earnings per share. As a group, analysts expect that Comcast Co. will post 4.25 EPS for the current year.

Insider Transactions at Comcast

In other news, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the completion of the sale, the chief executive officer now directly owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Michael J. Cavanagh sold 25,537 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $42.59, for a total value of $1,087,620.83. Following the completion of the transaction, the president now owns 534,849 shares in the company, valued at $22,779,218.91. The trade was a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Comcast Company 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.