Parallel Advisors LLC Purchases 658 Shares of Comcast Co. (NASDAQ:CMCSA)

Parallel Advisors LLC grew its position in shares of Comcast Co. (NASDAQ:CMCSA) by 0.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 86,405 shares of the cable giant’s stock after buying an additional 658 shares during the quarter. Parallel Advisors LLC’s holdings in Comcast were worth $3,384,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CMCSA. Steph & Co. lifted its position in shares of Comcast by 154.6% in the 1st quarter. Steph & Co. now owns 611 shares of the cable giant’s stock worth $26,000 after purchasing an additional 371 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in Comcast in the fourth quarter worth about $28,000. Pineridge Advisors LLC bought a new stake in Comcast during the 4th quarter valued at approximately $32,000. Financial Synergies Wealth Advisors Inc. grew its holdings in shares of Comcast by 336.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 769 shares of the cable giant’s stock worth $33,000 after acquiring an additional 593 shares during the period. Finally, IAG Wealth Partners LLC raised its position in shares of Comcast by 204.7% in the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares in the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCSA has been the topic of several research reports. Pivotal Research dropped their price target on Comcast from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 target price on shares of Comcast in a research report on Wednesday, July 24th. Seaport Res Ptn cut shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Macquarie reiterated a “neutral” rating and set a $40.00 target price on shares of Comcast in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.78.

Comcast Price Performance

NASDAQ CMCSA opened at $39.55 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market capitalization of $153.16 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 1.03 and a beta of 1.01. The stock has a 50-day moving average of $39.36 and a 200 day moving average of $39.74. Comcast Co. has a one year low of $36.43 and a one year high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The firm had revenue of $29.69 billion during the quarter, compared to analysts’ expectations of $30.02 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts forecast that Comcast Co. will post 4.23 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.14%. Comcast’s dividend payout ratio (DPR) is currently 32.80%.

About Comcast

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.