Wealth Alliance Decreases Stake in Comcast Co. (NASDAQ:CMCSA)

Wealth Alliance cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 5.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,500 shares of the cable giant’s stock after selling 1,835 shares during the quarter. Wealth Alliance’s holdings in Comcast were worth $1,312,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CMCSA. Steph & Co. lifted its position in shares of Comcast by 154.6% in the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after acquiring an additional 371 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new position in Comcast in the fourth quarter valued at $28,000. Pineridge Advisors LLC acquired a new position in Comcast in the fourth quarter valued at $32,000. Financial Synergies Wealth Advisors Inc. increased its stake in Comcast by 336.9% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock valued at $33,000 after purchasing an additional 593 shares during the last quarter. Finally, IAG Wealth Partners LLC increased its stake in Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Comcast Trading Down 0.2 %

NASDAQ:CMCSA opened at $39.28 on Wednesday. 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’s 50 day moving average is $39.43 and its two-hundred day moving average is $39.67. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The company 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.

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

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Comcast’s dividend payout ratio is presently 32.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research note on Wednesday, July 24th. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 target price for the company. in a research note on Tuesday, June 11th. Barclays dropped their target price on Comcast from $41.00 to $40.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Evercore ISI dropped their target price on Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, KeyCorp dropped their price target on Comcast from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.78.

Comcast 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.