Wealth Alliance LLC Reduces Stake in Comcast Corporation $CMCSA

Wealth Alliance LLC cut its holdings in Comcast Corporation (NASDAQ:CMCSA) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,120 shares of the cable giant’s stock after selling 1,886 shares during the period. Wealth Alliance LLC’s holdings in Comcast were worth $1,039,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC increased its position in Comcast by 906.8% during the second quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after buying an additional 671 shares in the last quarter. Cranbrook Wealth Management LLC boosted its stake in shares of Comcast by 86.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock worth $27,000 after purchasing an additional 350 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Comcast during the first quarter worth about $29,000. Princeton Global Asset Management LLC raised its position in shares of Comcast by 403.5% in the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after buying an additional 686 shares during the last quarter. Finally, GFG Capital LLC acquired a new stake in Comcast during the second quarter worth approximately $33,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CMCSA shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Comcast in a research note on Tuesday, October 14th. Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Royal Bank Of Canada decreased their target price on shares of Comcast from $38.00 to $32.00 and set a “sector perform” rating on the stock in a research report on Friday, October 31st. Morgan Stanley dropped their price target on shares of Comcast from $35.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. Finally, Zacks Research downgraded shares of Comcast from a “hold” rating to a “strong sell” rating in a research note on Monday. Ten research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.12.

Comcast Stock Performance

Shares of CMCSA stock traded up $0.32 during trading on Thursday, reaching $28.21. The company had a trading volume of 2,160,557 shares, compared to its average volume of 25,125,512. The firm’s 50 day simple moving average is $30.37 and its two-hundred day simple moving average is $32.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Corporation has a one year low of $25.75 and a one year high of $44.06. The company has a market capitalization of $102.80 billion, a PE ratio of 4.69, a PEG ratio of 1.78 and a beta of 0.92.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a return on equity of 18.06% and a net margin of 18.33%.The business had revenue of $30.34 billion during the quarter. Sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.7%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio is currently 21.96%.

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.