Pitcairn Co. Sells 11,551 Shares of Comcast Co. (NASDAQ:CMCSA)

Pitcairn Co. reduced its position in Comcast Co. (NASDAQ:CMCSA) by 12.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,251 shares of the cable giant’s stock after selling 11,551 shares during the quarter. Pitcairn Co.’s holdings in Comcast were worth $3,352,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CMCSA. Capital Investment Advisors LLC raised its stake in Comcast by 4.5% in the second quarter. Capital Investment Advisors LLC now owns 36,027 shares of the cable giant’s stock valued at $1,411,000 after purchasing an additional 1,550 shares in the last quarter. First Hawaiian Bank raised its stake in Comcast by 8.9% in the second quarter. First Hawaiian Bank now owns 191,846 shares of the cable giant’s stock valued at $7,513,000 after purchasing an additional 15,664 shares in the last quarter. Parnassus Investments LLC raised its stake in Comcast by 3.7% in the third quarter. Parnassus Investments LLC now owns 1,920,800 shares of the cable giant’s stock valued at $80,232,000 after purchasing an additional 68,139 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in Comcast by 0.7% in the third quarter. Douglas Lane & Associates LLC now owns 2,210,469 shares of the cable giant’s stock valued at $92,331,000 after purchasing an additional 15,807 shares in the last quarter. Finally, Wulff Hansen & CO. raised its stake in Comcast by 3,816.0% in the second quarter. Wulff Hansen & CO. now owns 558,382 shares of the cable giant’s stock valued at $21,866,000 after purchasing an additional 544,123 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CMCSA has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen decreased their price target on shares of Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a research note on Thursday. KeyCorp lifted their price target on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Pivotal Research lifted 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.19.

Comcast Stock Performance

Shares of Comcast stock opened at $43.47 on Friday. The stock has a market cap of $166.34 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.65 and a beta of 1.00. The firm’s 50-day moving average is $41.98 and its 200 day moving average is $40.03. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.72 and a quick ratio of 0.72.

Comcast (NASDAQ:CMCSA) last posted its 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. The business had revenue of $32.07 billion for the quarter, compared to analysts’ expectations of $31.78 billion. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 EPS. Sell-side analysts anticipate that Comcast Co. will post 4.26 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Wednesday, January 8th. 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.