Comcast Co. (NASDAQ:CMCSA) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 5.2% during the second quarter, Holdings Channel reports. The firm owned 33,500 shares of the cable giant’s stock after selling 1,835 shares during the period. Wealth Alliance’s holdings in Comcast were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steph & Co. raised its position in shares of Comcast by 154.6% during the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the period. OLD Point Trust & Financial Services N A acquired a new stake in Comcast in the 4th quarter valued at approximately $28,000. Pineridge Advisors LLC acquired a new stake in Comcast in the 4th quarter valued at approximately $32,000. Financial Synergies Wealth Advisors Inc. increased its position in Comcast by 336.9% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after acquiring an additional 593 shares during the period. Finally, IAG Wealth Partners LLC increased its position in Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 522 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays lowered their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Seaport Res Ptn cut Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. The Goldman Sachs Group assumed coverage on Comcast in a research report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 target price on the stock. KeyCorp lowered their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, StockNews.com cut Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.78.

Comcast Stock Performance

CMCSA opened at $39.28 on Wednesday. The firm has a market cap of $154.12 billion, a PE ratio of 10.39, a P/E/G ratio of 1.03 and a beta of 1.01. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $39.43 and a 200-day simple moving average of $39.67. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. The business had revenue of $29.69 billion during the quarter, compared to analyst estimates of $30.02 billion. Comcast had a return on equity of 20.17% and a net margin of 12.46%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the company posted $1.13 EPS. As a group, equities analysts predict that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 annualized dividend and a dividend yield of 3.16%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

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.