Allworth Financial LP Has $2.23 Million Holdings in Comcast Corporation $CMCSA

Key Points

• Allworth Financial reduced its Comcast position by 64.1% in the second quarter, selling 162,098 shares and retaining 90,730 shares valued at approximately $2.23 million.
• Comcast’s latest quarterly results beat expectations, with EPS of $1.04 versus the $0.97 consensus and revenue of $29.94 billion; however, revenue declined 1.2% year over year.
• The company announced a quarterly dividend of $0.33, equivalent to an annualized yield of about 5.2%. Analysts maintain a consensus “Hold” rating, with a $32.96 price target.

Allworth Financial LP decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 64.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,730 shares of the cable giant's stock after selling 162,098 shares during the quarter. Allworth Financial LP's holdings in Comcast were worth $2,227,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System boosted its position in shares of Comcast by 2,287.5% during the 2nd quarter. California State Teachers Retirement System now owns 139,632,225 shares of the cable giant's stock worth $3,427,971,000 after acquiring an additional 133,783,856 shares in the last quarter. Norges Bank bought a new stake in Comcast during the fourth quarter worth $2,498,626,000. Capital World Investors boosted its holdings in shares of Comcast by 20.8% in the 4th quarter. Capital World Investors now owns 140,343,399 shares of the cable giant's stock valued at $4,194,929,000 after purchasing an additional 24,166,881 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Comcast by 65.1% in the 4th quarter. Capital Research Global Investors now owns 55,664,933 shares of the cable giant's stock valued at $1,663,825,000 after purchasing an additional 21,958,603 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Comcast by 824.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,616,490 shares of the cable giant's stock valued at $333,509,000 after purchasing an additional 10,359,800 shares during the last quarter. 84.32% of the stock is owned by institutional investors.

Comcast Trading Up 0.1%

Shares of CMCSA stock opened at $25.20 on Friday. The firm has a market capitalization of $89.43 billion, a P/E ratio of 8.16, a P/E/G ratio of 1.79 and a beta of 0.68. Comcast Corporation has a twelve month low of $21.28 and a twelve month high of $33.38. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94. The stock's fifty day simple moving average is $25.01 and its 200 day simple moving average is $26.28.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating the consensus estimate of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The firm had revenue of $29.94 billion during the quarter, compared to the consensus estimate of $29.24 billion. During the same period last year, the company earned $1.25 earnings per share. The business's quarterly revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Wednesday, October 7th. Comcast's dividend payout ratio (DPR) is 42.72%.

Wall Street Analyst Weigh In

CMCSA has been the subject of a number of research analyst reports. BNP Paribas Exane lowered their price target on Comcast from $25.00 to $22.00 and set an "underperform" rating for the company in a report on Tuesday, July 14th. The Goldman Sachs Group decreased their target price on Comcast from $29.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, July 2nd. Morgan Stanley set a $29.00 target price on Comcast in a research note on Friday, July 24th. Freedom Capital raised shares of Comcast to a "hold" rating in a report on Friday, June 12th. Finally, Sanford C. Bernstein restated a "market perform" rating and issued a $28.00 price target on shares of Comcast in a research note on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.96.

About Comcast

Comcast Corporation NASDAQ: CMCSA is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.

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