Pallas Capital Advisors LLC Acquires 41,662 Shares of Comcast Co. (NASDAQ:CMCSA)

Pallas Capital Advisors LLC lifted its stake in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 83.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,798 shares of the cable giant's stock after acquiring an additional 41,662 shares during the period. Pallas Capital Advisors LLC's holdings in Comcast were worth $3,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cetera Trust Company N.A lifted its position in shares of Comcast by 1.8% in the first quarter. Cetera Trust Company N.A now owns 45,379 shares of the cable giant's stock worth $1,674,000 after purchasing an additional 800 shares in the last quarter. Deane Retirement Strategies Inc. increased its stake in Comcast by 4.0% in the 1st quarter. Deane Retirement Strategies Inc. now owns 79,974 shares of the cable giant's stock valued at $2,950,000 after buying an additional 3,083 shares during the last quarter. Range Financial Group LLC lifted its position in Comcast by 23.4% during the 1st quarter. Range Financial Group LLC now owns 8,063 shares of the cable giant's stock worth $298,000 after buying an additional 1,531 shares in the last quarter. Portside Wealth Group LLC boosted its stake in shares of Comcast by 16.1% during the 1st quarter. Portside Wealth Group LLC now owns 30,573 shares of the cable giant's stock worth $1,128,000 after buying an additional 4,230 shares during the last quarter. Finally, Toth Financial Advisory Corp grew its holdings in shares of Comcast by 9.0% in the 1st quarter. Toth Financial Advisory Corp now owns 3,630 shares of the cable giant's stock valued at $134,000 after acquiring an additional 300 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CMCSA. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $37.00 to $31.00 in a research note on Monday, April 14th. BNP Paribas cut shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price for the company. in a research note on Thursday, April 10th. Barclays dropped their price target on shares of Comcast from $37.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. KeyCorp decreased their price objective on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Oppenheimer lowered their price objective on shares of Comcast from $55.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Comcast presently has an average rating of "Moderate Buy" and an average price target of $42.10.

Comcast Stock Performance

Shares of CMCSA stock traded up $0.17 on Thursday, hitting $35.35. The company's stock had a trading volume of 6,704,917 shares, compared to its average volume of 22,019,085. Comcast Co. has a fifty-two week low of $31.44 and a fifty-two week high of $45.31. The company has a market capitalization of $131.99 billion, a PE ratio of 8.52, a PEG ratio of 1.78 and a beta of 0.95. The stock's 50 day moving average is $34.38 and its 200-day moving average is $36.26. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The firm had revenue of $29.89 billion for the quarter, compared to analyst estimates of $29.82 billion. During the same quarter in the prior year, the business posted $1.04 EPS. The business's revenue was down .6% compared to the same quarter last year. Equities research analysts expect that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Wednesday, July 2nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.73%. Comcast's dividend payout ratio (DPR) is presently 32.43%.

About Comcast

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.