Praxis Investment Management Inc. Lowers Position in Comcast Corporation $CMCSA

Praxis Investment Management Inc. decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 15.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,800 shares of the cable giant’s stock after selling 23,304 shares during the quarter. Praxis Investment Management Inc.’s holdings in Comcast were worth $3,820,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Comcast by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 369,311,219 shares of the cable giant’s stock valued at $11,038,712,000 after buying an additional 2,160,829 shares in the last quarter. State Street Corp boosted its stake in shares of Comcast by 4.6% during the 3rd quarter. State Street Corp now owns 180,687,135 shares of the cable giant’s stock worth $5,677,190,000 after acquiring an additional 7,917,335 shares in the last quarter. Dodge & Cox grew its position in shares of Comcast by 1.2% during the 3rd quarter. Dodge & Cox now owns 112,567,918 shares of the cable giant’s stock valued at $3,536,884,000 after acquiring an additional 1,295,598 shares during the period. Capital Research Global Investors increased its stake in shares of Comcast by 46.1% in the 3rd quarter. Capital Research Global Investors now owns 33,706,330 shares of the cable giant’s stock valued at $1,059,053,000 after purchasing an additional 10,633,206 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Comcast by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 24,104,774 shares of the cable giant’s stock valued at $757,372,000 after purchasing an additional 686,520 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $30.00 price target on shares of Comcast in a research report on Friday, January 30th. KeyCorp restated a “sector weight” rating on shares of Comcast in a research report on Thursday, April 23rd. Scotiabank increased their target price on Comcast from $34.00 to $36.00 and gave the company a “sector perform” rating in a research report on Friday, April 24th. Sanford C. Bernstein dropped their price target on shares of Comcast from $34.00 to $32.00 and set a “market perform” rating on the stock in a research note on Thursday, January 15th. Finally, Barclays set a $28.00 price objective on shares of Comcast and gave the stock an “equal weight” rating in a research report on Tuesday, January 13th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.94.

Insider Activity at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total value of $1,892,549.02. Following the transaction, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. This trade represents a 8.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.40% of the stock is owned by company insiders.

Comcast Stock Performance

NASDAQ CMCSA opened at $26.44 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The stock’s 50 day simple moving average is $29.19 and its 200-day simple moving average is $28.95. The company has a market cap of $94.45 billion, a PE ratio of 5.20, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $36.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. The firm had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. As a group, equities research analysts anticipate that Comcast Corporation will post 3.58 EPS for the current fiscal year.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.