Comcast (NASDAQ:CMCSA) Price Target Cut to $37.00 by Analysts at Wells Fargo & Company

Comcast (NASDAQ:CMCSA - Get Free Report) had its price target dropped by equities researchers at Wells Fargo & Company from $45.00 to $37.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the cable giant's stock. Wells Fargo & Company's target price would indicate a potential upside of 9.94% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. Loop Capital dropped their target price on Comcast from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Benchmark reiterated a "buy" rating and issued a $60.00 price target on shares of Comcast in a research report on Tuesday, November 19th. Barclays increased their target price 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. Scotiabank raised Comcast from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the stock from $47.75 to $48.00 in a research report on Friday, November 1st. Finally, The Goldman Sachs Group decreased their target price on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a report on Friday. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Comcast currently has an average rating of "Moderate Buy" and an average target price of $46.11.

Comcast Trading Up 1.2 %

Shares of CMCSA traded up $0.41 during trading hours on Friday, hitting $33.66. The stock had a trading volume of 9,330,715 shares, compared to its average volume of 24,483,641. The company's fifty day simple moving average is $38.80 and its 200 day simple moving average is $40.11. The firm has a market cap of $128.78 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.36 and a beta of 1.01. Comcast has a 12-month low of $32.50 and a 12-month high of $47.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.08. Comcast had a net margin of 11.92% and a return on equity of 19.81%. Equities research analysts forecast that Comcast will post 4.25 EPS for the current fiscal year.

Insider Buying and Selling at Comcast

In related news, President Michael J. Cavanagh sold 25,537 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the transaction, the president now directly owns 534,849 shares in the company, valued at $22,779,218.91. This represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian L. Roberts sold 234,464 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the transaction, the chief executive officer now owns 6,669,928 shares of the company's stock, valued at $284,539,128.48. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company's stock.

Hedge Funds Weigh In On Comcast

A number of large investors have recently modified their holdings of the company. World Investment Advisors LLC increased its holdings in Comcast by 904.0% in the 3rd quarter. World Investment Advisors LLC now owns 254,545 shares of the cable giant's stock worth $10,632,000 after acquiring an additional 229,192 shares during the last quarter. Tidal Investments LLC raised its stake in Comcast by 15.2% in the third quarter. Tidal Investments LLC now owns 171,440 shares of the cable giant's stock valued at $7,161,000 after purchasing an additional 22,684 shares in the last quarter. Parnassus Investments LLC grew its position in Comcast by 3.7% in the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant's stock worth $80,232,000 after acquiring an additional 68,139 shares in the last quarter. Douglas Lane & Associates LLC increased its position in shares of Comcast by 0.7% during 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 purchasing an additional 15,807 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new position in Comcast during the third quarter valued at approximately $2,541,000. 84.32% of the stock is currently owned by institutional investors.

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.

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