Price Don’t Lie: What Will Happen to Comcast Corporation Next? The Stock Just Reaches 52-Week High

Price Don't Lie: What Will Happen to Comcast Corporation Next? The Stock Just Reaches 52 Week High

The stock of Comcast Corporation (NASDAQ:CMCSA) hit a new 52-week high and has $103.72 target or 52.00% above today’s $68.24 share price. The 7 months bullish chart indicates low risk for the $165.76 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $103.72 price target is reached, the company will be worth $86.20 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 7.11 million shares traded hands. Comcast Corporation (NASDAQ:CMCSA) has risen 8.88% since April 15, 2016 and is uptrending. It has outperformed by 4.25% the S&P500.

Comcast Corporation (NASDAQ:CMCSA) Ratings Coverage

Out of 15 analysts covering Comcast Corporation (NASDAQ:CMCSA), 12 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 80% are positive. $90 is the highest target while $61.0 is the lowest. The $71.22 average target is 4.37% above today’s ($68.24) stock price. Comcast Corporation has been the topic of 32 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Friday, August 19 by Telsey Advisory Group. The rating was initiated by Suntrust Robinson with “Neutral” on Wednesday, November 11. The stock of Comcast Corporation (NASDAQ:CMCSA) earned “Neutral” rating by SunTrust on Wednesday, November 11. The rating was maintained by Wunderlich with “Buy” on Wednesday, September 16. Nomura maintained the stock with “Buy” rating in Monday, June 27 report. The stock of Comcast Corporation (NASDAQ:CMCSA) earned “Outperform” rating by RBC Capital Markets on Thursday, February 4. The rating was maintained by RBC Capital Markets on Thursday, April 28 with “Outperform”. The firm has “Buy” rating by Nomura given on Tuesday, December 8. Pivotal Research maintained Comcast Corporation (NASDAQ:CMCSA) rating on Thursday, July 23. Pivotal Research has “Buy” rating and $80 price target. RBC Capital Markets maintained Comcast Corporation (NASDAQ:CMCSA) on Monday, July 27 with “Outperform” rating.

According to Zacks Investment Research, “Comcast Corp., among the world’s leading communication companies, provides basic cable, digital cable and high speed internet services that connect people to what’s important in their lives. They are in the process of deploying digital video applications and high-speed Internet access service to expand the products available on their cable communications networks.”

Insitutional Activity: The institutional sentiment decreased to 0.94 in 2016 Q2. Its down 0.07, from 1.01 in 2016Q1. The ratio dropped, as 62 funds sold all Comcast Corporation shares owned while 488 reduced positions. 82 funds bought stakes while 436 increased positions. They now own 1.91 billion shares or 3.22% less from 1.97 billion shares in 2016Q1.
Rosenbaum Jay D has invested 0.07% of its portfolio in Comcast Corporation (NASDAQ:CMCSA). Alpine Woods Capital Invsts Lc holds 0.73% of its portfolio in Comcast Corporation (NASDAQ:CMCSA) for 187,461 shares. Boys Arnold & Inc has invested 0.05% of its portfolio in Comcast Corporation (NASDAQ:CMCSA). American Century Incorporated last reported 0.42% of its portfolio in the stock. Monroe Comml Bank Tru Mi last reported 0.11% of its portfolio in the stock. The France-based Credit Agricole S A has invested 0.7% in Comcast Corporation (NASDAQ:CMCSA). Amica Pension Fund Board Of Trustees owns 94,814 shares or 0.81% of their US portfolio. Euclid Advisors Lc holds 265,271 shares or 0.75% of its portfolio. Eagle Capital Mgmt Ltd accumulated 0% or 12,000 shares. Ftb has 0.09% invested in the company for 10,649 shares. Sound Shore Ct holds 2.98% of its portfolio in Comcast Corporation (NASDAQ:CMCSA) for 2.50 million shares. Salem Invest Counselors accumulated 18,712 shares or 0.15% of the stock. California Public Employees Retirement System has invested 0.72% of its portfolio in Comcast Corporation (NASDAQ:CMCSA). Afam Capital owns 125,943 shares or 1.36% of their US portfolio. Addenda has 0.13% invested in the company for 24,736 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 9 insider sales for $27.23 million net activity. $157,060 worth of Comcast Corporation (NASDAQ:CMCSA) was sold by BACON KENNETH J on Thursday, June 16. The insider COHEN DAVID L sold $1.27 million. Another trade for 304,109 shares valued at $20.45M was made by ROBERTS BRIAN L on Friday, July 29. Shares for $959,763 were sold by Smit Neil on Wednesday, June 1. 1,023 shares with value of $67,257 were sold by BLOCK ARTHUR R on Friday, September 16. $15,394 worth of shares were sold by RODIN JUDITH on Thursday, June 9.

More news for Comcast Corporation (NASDAQ:CMCSA) were recently published by: Fool.com, which released: “Better Buy: Comcast Corporation vs. Charter Communications” on November 14, 2016. Investorplace.com‘s article titled: “Does Comcast Corporation (CMCSA) Show the Future for AT&T Inc (T) and Time …” and published on October 24, 2016 is yet another important article.

CMCSA Company Profile

Comcast Corporation, incorporated on December 7, 2001, is a media and technology company. The Company’s primary businesses include Comcast Cable and NBCUniversal. The Company’s Comcast Cable business operates through Cable Communications segment. The Company’s NBCUniversal business consists of four divisions, which include Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks. The Company’s other business interests consists of Comcast Spectacor, which owns the Philadelphia Flyers, and the Wells Fargo Center arena in Philadelphia, Pennsylvania, and operates from arena management-related businesses.

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