Independent Advisor Alliance Has $5.43 Million Stock Holdings in Comcast Corporation $CMCSA

Key Points

• Independent Advisor Alliance increased its Comcast stake by 39.2% in the fourth quarter, bringing holdings to 181,579 shares valued at about $5.43 million.
• Comcast’s latest quarterly results beat Wall Street expectations, with earnings of $0.79 per share on $31.46 billion in revenue, both ahead of analyst estimates.
• The company also announced a quarterly dividend of $0.33 per share, equal to an annualized yield of about 5.3%, while analysts currently rate the stock Hold on average.

Independent Advisor Alliance lifted its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 39.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,579 shares of the cable giant's stock after acquiring an additional 51,130 shares during the quarter. Independent Advisor Alliance's holdings in Comcast were worth $5,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CMCSA. Community Bank N.A. raised its holdings in Comcast by 123.3% during the 4th quarter. Community Bank N.A. now owns 33,643 shares of the cable giant's stock worth $1,005,000 after purchasing an additional 18,580 shares during the last quarter. World Investment Advisors raised its stake in Comcast by 17.1% during the fourth quarter. World Investment Advisors now owns 328,962 shares of the cable giant's stock worth $9,833,000 after buying an additional 47,936 shares during the last quarter. Valley Wealth Managers Inc. raised its stake in Comcast by 21.6% during the fourth quarter. Valley Wealth Managers Inc. now owns 143,014 shares of the cable giant's stock worth $4,275,000 after buying an additional 25,441 shares during the last quarter. Money Concepts Capital Corp lifted its holdings in Comcast by 15.8% in the fourth quarter. Money Concepts Capital Corp now owns 129,005 shares of the cable giant's stock valued at $3,856,000 after buying an additional 17,556 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in Comcast by 0.7% in the fourth quarter. First Eagle Investment Management LLC now owns 36,171,945 shares of the cable giant's stock valued at $1,081,179,000 after buying an additional 245,271 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group decreased their price target on Comcast from $36.00 to $32.00 and set a "neutral" rating for the company in a report on Friday, January 30th. Morgan Stanley upped their target price on Comcast from $31.00 to $33.00 and gave the company an "equal weight" rating in a research report on Friday, April 24th. TD Cowen decreased their target price on Comcast from $40.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Zacks Research upgraded Comcast from a "strong sell" rating to a "hold" rating in a report on Tuesday, March 31st. Finally, Evercore boosted their price target on Comcast from $35.00 to $36.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Comcast presently has an average rating of "Hold" and a consensus target price of $34.79.

Comcast Price Performance

CMCSA stock opened at $24.94 on Thursday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The company's 50-day moving average is $28.62 and its 200-day moving average is $28.80. The stock has a market capitalization of $89.09 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 2.00 and a beta of 0.71. Comcast Corporation has a 1 year low of $24.53 and a 1 year high of $36.66.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.06. The business had revenue of $31.46 billion during the quarter, compared to analyst estimates of $30.42 billion. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. Equities research analysts expect that Comcast Corporation will post 3.58 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast's dividend payout ratio is presently 25.98%.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal's assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.