Palumbo Wealth Management LLC Trims Holdings in Comcast Co. (NASDAQ:CMCSA)

Palumbo Wealth Management LLC lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,609 shares of the cable giant’s stock after selling 286 shares during the period. Palumbo Wealth Management LLC’s holdings in Comcast were worth $527,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC grew its position in shares of Comcast by 4.5% in the 2nd quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock worth $1,411,000 after acquiring an additional 1,550 shares in the last quarter. First Hawaiian Bank boosted its holdings in Comcast by 8.9% in the second quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock worth $7,513,000 after purchasing an additional 15,664 shares during the period. BNP Paribas bought a new stake in Comcast during the first quarter valued at $4,117,000. Douglas Lane & Associates LLC raised its holdings in shares of Comcast by 0.7% during the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock worth $92,331,000 after purchasing an additional 15,807 shares during the period. Finally, American National Bank & Trust Co. VA bought a new position in shares of Comcast in the 1st quarter worth about $426,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Macquarie reiterated a “neutral” rating and set a $40.00 price target on shares of Comcast in a research report on Wednesday, July 24th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. Scotiabank increased their target price on Comcast from $47.25 to $47.75 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Finally, Benchmark reissued a “buy” rating and set a $55.00 price target on shares of Comcast in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.58.

Comcast Price Performance

Shares of NASDAQ:CMCSA traded up $0.97 during trading on Thursday, reaching $43.21. The company had a trading volume of 8,551,074 shares, compared to its average volume of 19,524,934. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $169.54 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. The firm’s fifty day moving average is $40.64 and its 200 day moving average is $39.52.

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.