Comcast (NASDAQ:CMCSA) Price Target Cut to $44.00 by Analysts at The Goldman Sachs Group

Comcast (NASDAQ:CMCSA) had its price objective cut by equities research analysts at The Goldman Sachs Group from $50.00 to $44.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the cable giant’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 32.33% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. BNP Paribas upgraded Comcast from an “underperform” rating to a “neutral” rating and set a $35.00 price objective on the stock in a research note on Friday. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, November 6th. TD Cowen reduced their target price on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Wells Fargo & Company cut their price objective on shares of Comcast from $46.00 to $45.00 and set an “equal weight” rating for the company in a research report on Monday, January 6th. Eight 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.89.

Comcast Stock Performance

Shares of CMCSA opened at $33.25 on Friday. The stock has a 50 day moving average of $39.01 and a 200 day moving average of $40.15. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast has a 12 month low of $32.50 and a 12 month high of $47.11. The company has a market capitalization of $127.23 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.36 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share (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%. As a group, sell-side analysts forecast that Comcast will post 4.25 earnings per share for the current year.

Insider Buying and Selling at Comcast

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

Institutional Investors Weigh In On Comcast

A number of institutional investors have recently modified their holdings of the stock. Koshinski Asset Management Inc. grew its holdings in Comcast by 0.8% during the third quarter. Koshinski Asset Management Inc. now owns 30,584 shares of the cable giant’s stock worth $1,277,000 after acquiring an additional 249 shares during the period. Taurus Asset Management LLC boosted its position in Comcast by 2.9% during the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock worth $381,000 after purchasing an additional 253 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its position in shares of Comcast by 3.1% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 8,445 shares of the cable giant’s stock valued at $353,000 after buying an additional 257 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in Comcast by 4.7% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 5,829 shares of the cable giant’s stock worth $243,000 after acquiring an additional 260 shares in the last quarter. Finally, Saxon Interests Inc. raised its position in Comcast by 2.0% during the third quarter. Saxon Interests Inc. now owns 13,554 shares of the cable giant’s stock worth $566,000 after acquiring an additional 262 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

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.