Westpac Banking Corp Cuts Holdings in Comcast Co. (NASDAQ:CMCSA)
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.
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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