Independent Advisor Alliance Has $2.90 Million Stock Holdings in Comcast Co. (NASDAQ:CMCSA)

Independent Advisor Alliance cut its stake in Comcast Co. (NASDAQ:CMCSA) by 30.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 69,429 shares of the cable giant’s stock after selling 30,661 shares during the quarter. Independent Advisor Alliance’s holdings in Comcast were worth $2,900,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd raised its holdings in shares of Comcast by 50.2% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 177,945 shares of the cable giant’s stock worth $7,433,000 after buying an additional 59,504 shares in the last quarter. Douglass Winthrop Advisors LLC raised its holdings in shares of Comcast by 1.1% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 44,308 shares of the cable giant’s stock worth $1,851,000 after buying an additional 475 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Comcast by 9.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 734,261 shares of the cable giant’s stock worth $30,670,000 after buying an additional 65,939 shares in the last quarter. Hartford Funds Management Co LLC raised its holdings in shares of Comcast by 8.2% during the 3rd quarter. Hartford Funds Management Co LLC now owns 17,272 shares of the cable giant’s stock worth $721,000 after buying an additional 1,306 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of Comcast during the 3rd quarter worth $333,000. 84.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMCSA shares. TD Cowen dropped their target price on Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Barclays increased their target price on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Macquarie increased their target price on Comcast from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Pivotal Research increased their target price on Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Comcast in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Comcast currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Trading Down 0.6 %

Shares of CMCSA stock opened at $43.20 on Tuesday. The stock has a market cap of $165.31 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.64 and a beta of 1.00. The stock has a 50-day moving average of $42.06 and a 200-day moving average of $40.08. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 1-year low of $36.43 and a 1-year high of $47.11.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter last year, the firm posted $1.08 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, equities research analysts forecast that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.87%. Comcast’s dividend payout ratio is currently 33.33%.

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.