Parallel Advisors LLC Sells 2,055 Shares of Comcast Co. (NASDAQ:CMCSA)

Parallel Advisors LLC lowered its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,197 shares of the cable giant’s stock after selling 2,055 shares during the quarter. Parallel Advisors LLC’s holdings in Comcast were worth $2,822,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. TrinityPoint Wealth LLC bought a new stake in shares of Comcast during the 3rd quarter valued at approximately $240,000. Aljian Capital Management LLC bought a new stake in Comcast during the 3rd quarter worth $244,000. AMG National Trust Bank increased its holdings in Comcast by 1.3% in the 3rd quarter. AMG National Trust Bank now owns 107,850 shares of the cable giant’s stock worth $4,505,000 after purchasing an additional 1,422 shares in the last quarter. Taurus Asset Management LLC raised its position in Comcast by 2.9% in the third quarter. Taurus Asset Management LLC now owns 9,125 shares of the cable giant’s stock valued at $381,000 after purchasing an additional 253 shares during the last quarter. Finally, Aviso Wealth Management increased its stake in shares of Comcast by 86.0% in the third quarter. Aviso Wealth Management now owns 40,420 shares of the cable giant’s stock valued at $1,688,000 after buying an additional 18,689 shares during the period. Institutional investors own 84.32% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CMCSA shares. Evercore ISI upgraded shares of Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com raised Comcast from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 27th. Scotiabank cut Comcast from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $48.00 to $44.50 in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of Comcast from $45.00 to $37.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. Finally, Bank of America lowered Comcast from a “buy” rating to a “neutral” rating and cut their target price for the company from $50.00 to $38.00 in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.83.

Comcast Price Performance

Shares of NASDAQ CMCSA opened at $35.75 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.68 and a current ratio of 0.68. The firm’s 50-day simple moving average is $35.88 and its 200 day simple moving average is $39.16. The stock has a market cap of $135.17 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 1.78 and a beta of 1.00. Comcast Co. has a fifty-two week low of $32.50 and a fifty-two week high of $45.31.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. As a group, research analysts anticipate that Comcast Co. will post 4.33 earnings per share for the current fiscal year.

Comcast Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.69%. This is an increase from Comcast’s previous quarterly dividend of $0.31. Comcast’s dividend payout ratio is currently 31.81%.

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.