Parallel Advisors LLC Decreases Position in Comcast Co. (NASDAQ:CMCSA)

Parallel Advisors LLC trimmed its position in Comcast Co. (NASDAQ:CMCSA - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 64,444 shares of the cable giant's stock after selling 10,753 shares during the period. Parallel Advisors LLC's holdings in Comcast were worth $2,378,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CMCSA. Raymond James Financial Inc. purchased a new position in Comcast during the fourth quarter worth approximately $743,681,000. Bfsg LLC grew its holdings in shares of Comcast by 752.8% in the fourth quarter. Bfsg LLC now owns 83,366 shares of the cable giant's stock valued at $3,129,000 after purchasing an additional 73,590 shares during the period. Mission Wealth Management LP grew its holdings in shares of Comcast by 8.3% in the fourth quarter. Mission Wealth Management LP now owns 43,509 shares of the cable giant's stock valued at $1,633,000 after purchasing an additional 3,344 shares during the period. Robinson Value Management Ltd. increased its position in Comcast by 136.7% during the fourth quarter. Robinson Value Management Ltd. now owns 102,360 shares of the cable giant's stock worth $3,842,000 after purchasing an additional 59,107 shares during the last quarter. Finally, Private Management Group Inc. raised its stake in Comcast by 3.0% during the fourth quarter. Private Management Group Inc. now owns 855,787 shares of the cable giant's stock worth $32,118,000 after purchasing an additional 24,827 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded up $0.33 during mid-day trading on Tuesday, hitting $34.66. 22,049,036 shares of the company were exchanged, compared to its average volume of 21,998,146. The firm has a market cap of $129.41 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 1-year low of $31.44 and a 1-year high of $45.31. The stock has a 50 day simple moving average of $34.58 and a 200-day simple moving average of $36.57.

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

Comcast Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Wednesday, July 2nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is 32.43%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CMCSA. Wells Fargo & Company cut shares of Comcast from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $37.00 to $31.00 in a research note on Monday, April 14th. Barclays lowered their price target on Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. BNP Paribas cut shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 price target for the company. in a research report on Thursday, April 10th. Morgan Stanley set a $37.00 price target on Comcast in a research note on Friday, April 25th. Finally, UBS Group set a $44.50 price target on shares of Comcast in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Comcast presently has an average rating of "Moderate Buy" and a consensus target price of $42.10.

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.