Pallas Capital Advisors LLC Trims Holdings in Comcast Corporation $CMCSA

Key Points

• Pallas Capital Advisors LLC has reduced its stake in Comcast Corporation by 53.4%, now owning 42,775 shares valued at approximately $1.5 million.
• Comcast's stock currently has a consensus rating of "Hold" and an average price target of $40.56, with various analysts adjusting their ratings and price targets recently.
• Comcast announced a quarterly dividend of $0.33 per share, representing an annualized yield of 4.2%, set to be paid on October 22nd.

Pallas Capital Advisors LLC reduced its stake in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 53.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,775 shares of the cable giant's stock after selling 49,023 shares during the period. Pallas Capital Advisors LLC's holdings in Comcast were worth $1,527,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CMCSA. Brighton Jones LLC grew its position in shares of Comcast by 150.9% during the fourth quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after purchasing an additional 99,986 shares in the last quarter. Two Sigma Advisers LP increased its position in Comcast by 733.9% in the fourth quarter. Two Sigma Advisers LP now owns 423,600 shares of the cable giant's stock worth $15,898,000 after purchasing an additional 372,800 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in Comcast by 20.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 7,701 shares of the cable giant's stock valued at $289,000 after purchasing an additional 1,292 shares in the last quarter. Waverly Advisors LLC lifted its position in Comcast by 105.4% during the fourth quarter. Waverly Advisors LLC now owns 90,042 shares of the cable giant's stock valued at $3,379,000 after purchasing an additional 46,209 shares during the last quarter. Finally, Continuum Advisory LLC lifted its position in Comcast by 5.8% during the fourth quarter. Continuum Advisory LLC now owns 18,696 shares of the cable giant's stock valued at $702,000 after purchasing an additional 1,027 shares during the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ CMCSA traded down $0.05 during trading hours on Friday, reaching $31.59. The stock had a trading volume of 53,783,241 shares, compared to its average volume of 20,704,542. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31. The stock has a fifty day moving average of $33.45 and a 200 day moving average of $34.48. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $116.64 billion, a P/E ratio of 5.22, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion during the quarter, compared to analysts' expectations of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. Sell-side analysts predict that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is 21.82%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CMCSA shares. Scotiabank upped their price objective on Comcast from $44.50 to $45.00 and gave the company a "sector perform" rating in a research report on Friday, July 11th. Royal Bank Of Canada began coverage on Comcast in a research report on Monday, September 8th. They set a "sector perform" rating and a $38.00 target price for the company. Barclays reduced their price target on Comcast from $35.00 to $34.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Citigroup restated a "buy" rating on shares of Comcast in a report on Tuesday, August 26th. Finally, Benchmark reiterated a "buy" rating on shares of Comcast in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Comcast has a consensus rating of "Hold" and an average target price of $40.56.

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.