Pallas Capital Advisors LLC Lowers Stake in Comcast Corporation $CMCSA

Pallas Capital Advisors LLC reduced its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 53.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,775 shares of the cable giant’s stock after selling 49,023 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Comcast were worth $1,527,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new stake in Comcast in the 1st quarter valued at $26,000. Abound Financial LLC purchased a new position in Comcast during the first quarter valued at $29,000. Ransom Advisory Ltd acquired a new position in shares of Comcast during the 1st quarter worth about $29,000. Retirement Wealth Solutions LLC raised its position in shares of Comcast by 126.9% during the 1st quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant’s stock worth $30,000 after purchasing an additional 448 shares during the last quarter. Finally, Global Wealth Strategies & Associates raised its position in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CMCSA shares. Arete Research upgraded Comcast to a “hold” rating in a research note on Tuesday, July 8th. Sanford C. Bernstein lowered their price target on Comcast from $37.00 to $36.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 10th. Barclays decreased their price objective on Comcast from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Citigroup reiterated a “buy” rating on shares of Comcast in a research report on Tuesday, August 26th. Finally, Rosenblatt Securities increased 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 equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.56.

Comcast Stock Performance

Shares of CMCSA stock opened at $31.64 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. Comcast Corporation has a 52 week low of $31.03 and a 52 week high of $45.31. The stock has a market capitalization of $116.82 billion, a PE ratio of 5.23, a P/E/G ratio of 1.94 and a beta of 0.93. The firm has a 50 day moving average of $33.52 and a two-hundred day moving average of $34.50.

Comcast (NASDAQ:CMCSA) last announced its quarterly earnings data on Thursday, July 31st. The cable giant reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. The business had revenue of $30.31 billion for the quarter, compared to analysts’ expectations of $29.81 billion. Comcast had a return on equity of 18.86% and a net margin of 18.44%.The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. On average, research analysts predict that Comcast Corporation 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, October 22nd. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. Comcast’s payout ratio is currently 21.82%.

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.