Allstate Corp Sells 1,860 Shares of Comcast Co. (NASDAQ:CMCSA)

Allstate Corp cut its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 12.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,398 shares of the cable giant’s stock after selling 1,860 shares during the period. Allstate Corp’s holdings in Comcast were worth $588,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Comcast by 8.9% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 16,582 shares of the cable giant’s stock worth $727,000 after purchasing an additional 1,355 shares during the period. Enterprise Financial Services Corp lifted its position in shares of Comcast by 3.4% in the 4th quarter. Enterprise Financial Services Corp now owns 12,125 shares of the cable giant’s stock worth $532,000 after purchasing an additional 396 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of Comcast during the 4th quarter valued at $54,000. Tidemark LLC acquired a new position in shares of Comcast during the 4th quarter valued at $51,000. Finally, Delta Asset Management LLC TN lifted its position in shares of Comcast by 0.4% during the 4th quarter. Delta Asset Management LLC TN now owns 803,160 shares of the cable giant’s stock valued at $35,219,000 after acquiring an additional 3,177 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Comcast Trading Down 0.5 %

Shares of NASDAQ CMCSA traded down $0.21 during mid-day trading on Thursday, hitting $38.68. The stock had a trading volume of 6,354,419 shares, compared to its average volume of 20,479,398. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.46. The business has a 50 day moving average price of $40.37 and a two-hundred day moving average price of $42.09. The firm has a market cap of $151.77 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. The business had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, equities analysts anticipate that Comcast Co. will post 4.21 EPS for the current fiscal year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 3rd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, July 3rd. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CMCSA shares. Scotiabank decreased their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating for the company in a research note on Friday, April 26th. Evercore ISI restated an “outperform” rating and set a $50.00 price target on shares of Comcast in a research note on Tuesday, March 26th. BNP Paribas restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Tuesday, April 9th. Rosenblatt Securities restated a “neutral” rating and set a $45.00 price target on shares of Comcast in a research note on Friday, April 26th. Finally, Redburn Atlantic lowered shares of Comcast from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.33.

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.