Independent Advisor Alliance Sells 30,661 Shares of Comcast Co. (NASDAQ:CMCSA)

Independent Advisor Alliance decreased its position in Comcast Co. (NASDAQ:CMCSA) by 30.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,429 shares of the cable giant’s stock after selling 30,661 shares during the period. Independent Advisor Alliance’s holdings in Comcast were worth $2,900,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in Comcast during the second quarter worth about $26,000. Strategic Financial Concepts LLC bought a new position in Comcast during the second quarter worth about $27,000. IAG Wealth Partners LLC boosted its holdings in Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after buying an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. boosted its holdings in Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after buying an additional 570 shares during the last quarter. Finally, Archer Investment Corp boosted its holdings in Comcast by 177.1% during the second quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after buying an additional 519 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the topic of a number of research analyst reports. Scotiabank raised Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $47.75 to $48.00 in a research report on Friday, November 1st. Evercore ISI raised Comcast to a “strong-buy” rating in a research report on Thursday, November 21st. Barclays raised their price target on Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $45.00 price target on shares of Comcast in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company raised their price target on Comcast from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Comcast has a consensus rating of “Moderate Buy” and an average target price of $47.19.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $43.20 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. Comcast Co. has a 12 month low of $36.43 and a 12 month high of $47.11. The stock has a 50 day moving average of $42.06 and a 200-day moving average of $40.08. The company has a market capitalization of $165.31 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.64 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Comcast Co. will post 4.26 EPS for the current year.

Comcast Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.87%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Comcast Company Profile

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.