Pallas Capital Advisors LLC Increases Position in Comcast Corporation $CMCSA

Pallas Capital Advisors LLC grew its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 96.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,077 shares of the cable giant’s stock after purchasing an additional 20,634 shares during the period. Pallas Capital Advisors LLC’s holdings in Comcast were worth $1,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC raised its holdings in shares of Comcast by 173.7% in the 2nd quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after buying an additional 436 shares during the period. Howard Hughes Medical Institute purchased a new position in Comcast during the 2nd quarter valued at about $29,000. Imprint Wealth LLC purchased a new position in Comcast during the 3rd quarter valued at about $26,000. Newbridge Financial Services Group Inc. acquired a new position in Comcast in the 2nd quarter valued at about $31,000. Finally, United Financial Planning Group LLC acquired a new position in Comcast in the 3rd quarter valued at about $28,000. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMCSA. Rosenblatt Securities reissued a “neutral” rating and set a $30.00 price target on shares of Comcast in a research report on Friday, January 30th. Scotiabank dropped their price objective on shares of Comcast from $37.50 to $35.25 and set a “sector perform” rating for the company in a report on Friday, January 30th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Comcast from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Morgan Stanley reduced their target price on shares of Comcast from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 10th. Finally, Barclays set a $28.00 price target on shares of Comcast and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Ten investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.76.

Comcast Stock Performance

Shares of Comcast stock opened at $28.33 on Monday. The business has a 50-day simple moving average of $30.31 and a 200-day simple moving average of $29.49. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.88. Comcast Corporation has a one year low of $25.75 and a one year high of $37.48. The company has a market cap of $101.93 billion, a PE ratio of 5.28, a P/E/G ratio of 2.22 and a beta of 0.79.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.09. Comcast had a net margin of 16.17% and a return on equity of 16.86%. The firm had revenue of $32.31 billion for the quarter, compared to analysts’ expectations of $32.35 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is presently 24.58%.

Insider Buying and Selling at Comcast

In other news, CEO Michael J. Cavanagh sold 57,947 shares of Comcast stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the sale, the chief executive officer directly owned 622,336 shares of the company’s stock, valued at approximately $20,325,493.76. The trade was a 8.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.