Allstate Corp Trims Position in Comcast Co. (NASDAQ:CMCSA)

Allstate Corp cut its holdings in shares of Comcast Co. (NASDAQ:CMCSAGet Rating) by 47.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 103,224 shares of the cable giant’s stock after selling 93,337 shares during the period. Allstate Corp’s holdings in Comcast were worth $4,833,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Rafferty Asset Management LLC boosted its position in shares of Comcast by 14.6% during the fourth quarter. Rafferty Asset Management LLC now owns 84,526 shares of the cable giant’s stock valued at $4,254,000 after purchasing an additional 10,774 shares in the last quarter. Regal Investment Advisors LLC boosted its position in shares of Comcast by 6.8% during the fourth quarter. Regal Investment Advisors LLC now owns 9,823 shares of the cable giant’s stock valued at $494,000 after purchasing an additional 629 shares in the last quarter. Covestor Ltd bought a new stake in Comcast in the fourth quarter worth $86,000. Guardian Capital Advisors LP boosted its holdings in Comcast by 152.7% in the fourth quarter. Guardian Capital Advisors LP now owns 81,985 shares of the cable giant’s stock worth $4,177,000 after acquiring an additional 49,540 shares in the last quarter. Finally, Guardian Capital LP boosted its holdings in Comcast by 10.6% in the fourth quarter. Guardian Capital LP now owns 41,890 shares of the cable giant’s stock worth $2,108,000 after acquiring an additional 4,000 shares in the last quarter. 82.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Benchmark dropped their target price on Comcast from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, June 2nd. TheStreet downgraded Comcast from a “b-” rating to a “c+” rating in a report on Friday, July 29th. Daiwa Capital Markets initiated coverage on Comcast in a report on Friday, July 1st. They issued an “outperform” rating and a $43.00 target price on the stock. Cowen decreased their price target on Comcast from $60.00 to $51.00 in a research note on Friday, July 29th. Finally, Barclays decreased their price target on Comcast to $42.00 in a research note on Tuesday, August 9th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.17.

Comcast Stock Performance

Shares of CMCSA opened at $35.43 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.04. The business has a 50-day simple moving average of $38.78 and a two-hundred day simple moving average of $42.11. The stock has a market cap of $156.36 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.73 and a beta of 0.90. Comcast Co. has a 52 week low of $33.74 and a 52 week high of $60.85.

Comcast (NASDAQ:CMCSAGet Rating) last released its quarterly earnings data on Thursday, July 28th. The cable giant reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The firm had revenue of $30.02 billion during the quarter, compared to analyst estimates of $29.72 billion. Comcast had a return on equity of 16.67% and a net margin of 11.54%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.84 earnings per share. On average, analysts expect that Comcast Co. will post 3.63 EPS for the current year.

Comcast Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Tuesday, October 4th. Comcast’s dividend payout ratio (DPR) is 35.29%.

About Comcast

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Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Media, Studios, Theme Parks, and Sky segments. The Cable Communications segment offers broadband, video, voice, wireless, and other services to residential and business customers under the Xfinity brand; and advertising services.

Further Reading

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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