An Analysis of Comcast Corporation (CMCSA)’s Potential Price Growth


Comcast Corporation’s recent filing unveils that its Director BACON KENNETH J unloaded Company’s shares for reported $71770.0 on Dec 14. In the deal valued at $35.88 per share,2,000 shares were sold. As a result of this transaction, BACON KENNETH J now holds 36,829 shares worth roughly $ 1.46 million.

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Then, Murdock Daniel C. sold 8,929 shares, generating $397,340 in total proceeds. Upon selling the shares at $44.50, the EVP & Chief Accounting Officer now owns 1,817 shares.

Before that, WATSON DAVID N sold 65,410 shares. Comcast Corporation shares valued at $2,988,452 were divested by the CEO – Comcast Cable at a price of $45.69 per share. As a result of the transaction, WATSON DAVID N now holds 597,425 shares, worth roughly $23.75 million.

Truist upgraded its Comcast Corporation [CMCSA] rating to a Buy from a a Hold in a research note published on Tuesday. PT values the company’s stock at a premium of 20.5 to its Tuesday closing price. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who increased its forecast for the stock in early December from “an Underweight” to “an Equal weight”. Citigroup also remained covering CMCSA and has increased its forecast on October 13, 2022 with a “Buy” recommendation from previously “Neutral” rating. Atlantic Equities revised its rating on August 15, 2022. It rated CMCSA as “a Neutral” which previously was an “an Overweight”.

Price Performance Review of CMCSA

On Tuesday, Comcast Corporation [NASDAQ:CMCSA] saw its stock fall -1.27% to $39.75. On the same session, the stock had its day’s lowest price of $39.6516, but rose to a high of $40.44. Over the last five days, the stock has gained 2.08%. Comcast Corporation shares have risen nearly 13.67% since the year began. Nevertheless, the stocks have fallen -20.07% over the past one year. While a 52-week high of $51.20 was reached on 01/24/23, a 52-week low of $28.39 was recorded on 01/03/23. SMA at 50 days reached $35.94, while 200 days put it at $37.58. A total of 21.24 million shares were traded, compared to the trading of 30.35 million shares in the previous session.

Levels Of Support And Resistance For CMCSA Stock

The 24-hour chart illustrates a support level at 39.45, which if violated will result in even more drops to 39.16. On the upside, there is a resistance level at 40.24. A further resistance level may holdings at 40.74. The Relative Strength Index (RSI) on the 14-day chart is 68.80, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.42, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.65%. Stochastics %K at 93.33% indicates the stock is a selling.

How much short interest is there in Comcast Corporation?

A steep rise in short interest was recorded in Comcast Corporation stocks on Oct 13, 2022, growing by 2.93 million shares to a total of 79.5 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 76.57 million shares. There was a rise of 3.69%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.82% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.57.

Comcast Corporation [CMCSA] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 386,615,649 shares, or roughly 8.96% of the outstanding CMCSA shares. In other words, the investor’s shares have risen by 2,587,307 from its previous 13-F filing of 384028342.0. Additionally, Capital Research & Management Co decreased -0.95% of its stake after which the total value it holdings stand at $7,179,982,525, while BlackRock Fund Advisors added 0.10% of its stake to hold $6.82 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. sold -1,881,999 shares of Comcast Corporation, while Capital Research & Management Co sold -19,955,986 shares. At present, Massachusetts Financial Services is holding 102,801,153 shares valued at $3.59 billion. Dodge & Cox owned 82,356,579 shares of the company at the time of its most recent 13F filing, worth $2.88 billion.

According to FactSet, Comcast Corporation’s share price will average $41.73 in the next year, based on opinions of analysts polled by the firm. This is up nearly 3.08 percent from its previous closing price of $40.26. Analysts expect Comcast Corporation stock to reach the higher price of $60.00, while the lowest price estimate is $32.00. However, 33 analysts have rated CMCSA stock as an Overweight in their predictions for 2023.


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