Allworth Financial LP Sells 162,098 Shares of Comcast Corporation $CMCSA

Allworth Financial LP reduced its stake in Comcast Corporation (NASDAQ:CMCSA) by 64.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,730 shares of the cable giant’s stock after selling 162,098 shares during the quarter. Allworth Financial LP’s holdings in Comcast were worth $2,227,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CMCSA. Allied Private Wealth LLC bought a new position in Comcast during the 2nd quarter worth approximately $26,000. Imprint Wealth LLC acquired a new position in shares of Comcast in the 3rd quarter worth approximately $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Comcast in the 4th quarter valued at $27,000. Whipplewood Advisors LLC boosted its stake in shares of Comcast by 75.5% in the 1st quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 401 shares during the last quarter. Finally, Main Street Group LTD acquired a new stake in shares of Comcast during the first quarter worth $27,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Up 0.1%

Comcast stock opened at $25.20 on Friday. The company has a market capitalization of $89.43 billion, a PE ratio of 8.16, a PEG ratio of 1.79 and a beta of 0.68. Comcast Corporation has a 12-month low of $21.28 and a 12-month high of $33.38. The firm’s fifty day moving average is $25.01 and its 200 day moving average is $26.28. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. Comcast had a net margin of 8.97% and a return on equity of 14.77%. The business had revenue of $29.94 billion during the quarter, compared to analysts’ expectations of $29.24 billion. During the same period last year, the company posted $1.25 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast’s dividend payout ratio is 42.72%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CMCSA. Royal Bank Of Canada set a $26.00 target price on shares of Comcast and gave the stock a “sector perform” rating in a research note on Friday, July 24th. Barclays set a $26.00 price target on shares of Comcast and gave the company an “equal weight” rating in a research report on Friday, July 24th. Deutsche Bank Aktiengesellschaft upgraded Comcast from a “hold” rating to a “buy” rating and decreased their price target for the stock from $34.00 to $32.00 in a report on Tuesday, June 30th. Weiss Ratings downgraded Comcast from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Finally, Morgan Stanley set a $29.00 price objective on Comcast in a research note on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.96.

Comcast Company Profile

Comcast Corporation (NASDAQ:CMCSA) is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.