Westpac Banking Corp trimmed its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,038,885 shares of the cable giant’s stock after selling 22,268 shares during the quarter. Comcast makes up approximately 0.7% of Westpac Banking Corp’s investment portfolio, making the stock its 25th biggest holding. Westpac Banking Corp’s holdings in Comcast were worth $43,924,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Evolution Wealth Advisors LLC acquired a new stake in shares of Comcast during the second quarter worth $26,000. Clean Yield Group purchased a new position in shares of Comcast during the first quarter worth $25,000. Mackey Komara & Dankovich LLC purchased a new position in shares of Comcast during the first quarter worth $27,000. Bray Capital Advisors purchased a new position in shares of Comcast during the second quarter worth $30,000. Finally, Litman Gregory Asset Management LLC purchased a new position in Comcast in the second quarter valued at $31,000. 82.66% of the stock is currently owned by institutional investors.

CMCSA stock traded up $1.06 during midday trading on Tuesday, reaching $43.52. 1,731,142 shares of the company’s stock traded hands, compared to its average volume of 17,328,588. The company has a market cap of $194.84 billion, a P/E ratio of 17.05, a P/E/G ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.69 and a quick ratio of 0.69. Comcast Co. has a fifty-two week low of $32.61 and a fifty-two week high of $45.29. The stock’s 50-day simple moving average is $43.39.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, July 25th. The cable giant reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The company had revenue of $26.86 billion for the quarter, compared to analyst estimates of $27.08 billion. Comcast had a net margin of 11.64% and a return on equity of 17.50%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. Equities analysts expect that Comcast Co. will post 3.07 earnings per share for the current year.

In related news, SVP Daniel C. Murdock sold 1,701 shares of Comcast stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $41.46, for a total value of $70,523.46. Following the completion of the sale, the senior vice president now owns 4,712 shares in the company, valued at $195,359.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.35% of the company’s stock.

A number of research firms have weighed in on CMCSA. TD Securities lifted their price objective on shares of Comcast from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, April 29th. KeyCorp lifted their price objective on shares of Comcast from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 26th. BidaskClub cut shares of Comcast from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James cut shares of Comcast from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $25.00 to $21.00 in a research note on Friday, June 14th. Finally, ValuEngine cut shares of Comcast from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Comcast has an average rating of “Buy” and an average price target of $45.44.

Comcast Company Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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