Comcast Co. (NASDAQ:CMCSA) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc lowered its stake in Comcast Co. (NASDAQ:CMCSA) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 528,221 shares of the cable giant’s stock after selling 3,111 shares during the period. Pinnacle Financial Partners Inc’s holdings in Comcast were worth $22,064,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new position in Comcast during the second quarter worth $26,000. Strategic Financial Concepts LLC purchased a new stake in Comcast in the 2nd quarter valued at about $27,000. IAG Wealth Partners LLC increased its position 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 purchasing an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. boosted its holdings in Comcast by 365.4% in the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after acquiring an additional 570 shares during the last quarter. Finally, Archer Investment Corp increased its position in Comcast by 177.1% during the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock worth $32,000 after purchasing an additional 519 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMCSA has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Comcast from $49.00 to $50.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays raised their target price on Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. KeyCorp raised their target price on Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Pivotal Research upped their price target on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, TD Cowen cut their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.75.

Comcast Trading Down 0.4 %

Comcast stock opened at $44.04 on Wednesday. The company has a market cap of $168.52 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 1.68 and a beta of 1.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a 50-day moving average of $41.36 and a 200-day moving average of $39.79. Comcast Co. has a one year low of $36.43 and a one year high of $47.11.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, beating 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 business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts expect that Comcast Co. will post 4.25 earnings per share for the current fiscal year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio 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.