Parallel Advisors LLC Has $3.38 Million Holdings in Comcast Co. (NASDAQ:CMCSA)

Parallel Advisors LLC lifted its position in shares of Comcast Co. (NASDAQ:CMCSA) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,405 shares of the cable giant’s stock after purchasing 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 reporting period.

A number of other large investors also recently modified their holdings of CMCSA. Gilbert & Cook Inc. lifted its holdings in shares of Comcast by 10.3% in the fourth quarter. Gilbert & Cook Inc. now owns 15,613 shares of the cable giant’s stock valued at $685,000 after purchasing an additional 1,459 shares in the last quarter. Gryphon Financial Partners LLC lifted its stake in Comcast by 71.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 50,539 shares of the cable giant’s stock valued at $2,451,000 after acquiring an additional 21,112 shares in the last quarter. Jump Financial LLC purchased a new position in Comcast during the 4th quarter worth $800,000. Meridian Wealth Management LLC grew its stake in shares of Comcast by 4.3% in the 4th quarter. Meridian Wealth Management LLC now owns 13,317 shares of the cable giant’s stock worth $584,000 after acquiring an additional 547 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new stake in shares of Comcast in the 4th quarter worth $203,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

Comcast stock opened at $39.55 on Friday. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The firm’s fifty day moving average price is $39.36 and its 200-day moving average price is $39.74. The stock has a market cap of $153.16 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 1.03 and a beta of 1.01. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66.

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

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is presently 32.80%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Evercore ISI decreased their price objective on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Seaport Res Ptn downgraded 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 Comcast from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com lowered Comcast from a “strong-buy” rating to a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group began coverage on shares of Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.78.

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.