Allegiance Financial Group Advisory Services LLC Cuts Stake in Comcast Corporation $CMCSA

Allegiance Financial Group Advisory Services LLC reduced its position in Comcast Corporation (NASDAQ:CMCSA) by 32.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,072 shares of the cable giant’s stock after selling 2,867 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Comcast were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its stake 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 worth $6,240,000 after buying an additional 99,986 shares during the period. Miracle Mile Advisors LLC lifted its stake in shares of Comcast by 32.7% during the first quarter. Miracle Mile Advisors LLC now owns 13,035 shares of the cable giant’s stock worth $481,000 after buying an additional 3,213 shares during the period. Simplicity Wealth LLC lifted its stake in shares of Comcast by 446.0% during the first quarter. Simplicity Wealth LLC now owns 43,949 shares of the cable giant’s stock worth $1,622,000 after buying an additional 35,900 shares during the period. Fiduciary Financial Group LLC acquired a new stake in shares of Comcast during the first quarter worth $381,000. Finally, Accurate Wealth Management LLC lifted its stake in shares of Comcast by 11.8% during the first quarter. Accurate Wealth Management LLC now owns 14,839 shares of the cable giant’s stock worth $500,000 after buying an additional 1,561 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Comcast Trading Up 0.6%

NASDAQ CMCSA opened at $30.77 on Thursday. The company has a market capitalization of $113.61 billion, a PE ratio of 5.09, a P/E/G ratio of 1.82 and a beta of 0.94. The company has a fifty day moving average of $32.60 and a 200 day moving average of $34.05. Comcast Corporation has a 1 year low of $30.30 and a 1 year high of $45.31. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.91 and a quick ratio of 0.91.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The company had revenue of $30.31 billion during the quarter, compared to analysts’ expectations of $29.81 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Wednesday, October 1st will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a yield of 4.3%. Comcast’s payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Moffett Nathanson lifted their price objective on shares of Comcast from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Citigroup reiterated a “buy” rating on shares of Comcast in a research note on Tuesday, August 26th. UBS Group set a $43.00 price objective on shares of Comcast in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Comcast in a research report on Saturday, September 27th. Finally, Rosenblatt Securities boosted their target price on shares of Comcast from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $39.94.

Comcast 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.