Pinnacle Associates Ltd. Sells 43,638 Shares of Comcast Corporation $CMCSA

Pinnacle Associates Ltd. lowered its stake in Comcast Corporation (NASDAQ:CMCSA) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 514,699 shares of the cable giant’s stock after selling 43,638 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Comcast were worth $15,384,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Imprint Wealth LLC bought a new stake in shares of Comcast in the 3rd quarter valued at $26,000. United Financial Planning Group LLC bought a new stake in Comcast during the 3rd quarter valued at $28,000. Olistico Wealth LLC bought a new stake in Comcast during the 4th quarter valued at $29,000. Richardson Financial Services Inc. increased its stake in Comcast by 212.6% during the 4th quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 691 shares in the last quarter. Finally, Lodestone Wealth Management LLC bought a new stake in Comcast during the 4th quarter valued at $33,000. Institutional investors own 84.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CMCSA shares. Royal Bank Of Canada boosted their price target on shares of Comcast from $31.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. BNP Paribas Exane decreased their price target on shares of Comcast from $26.00 to $25.00 and set an “underperform” rating for the company in a research note on Wednesday, April 8th. Rosenblatt Securities restated a “neutral” rating and set a $30.00 price target on shares of Comcast in a research note on Friday, January 30th. Pivotal Research lowered shares of Comcast from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Finally, Citigroup boosted their price target on shares of Comcast from $33.00 to $35.50 and gave the company a “buy” rating in a research note on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Comcast presently has an average rating of “Hold” and a consensus price target of $34.79.

Comcast Price Performance

Shares of NASDAQ:CMCSA opened at $24.94 on Thursday. The company’s 50-day moving average is $28.62 and its 200 day moving average is $28.80. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The company has a market capitalization of $89.09 billion, a P/E ratio of 4.91, a price-to-earnings-growth ratio of 2.00 and a beta of 0.71. Comcast Corporation has a fifty-two week low of $24.53 and a fifty-two week high of $36.66.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings results on Thursday, April 23rd. The cable giant reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $31.46 billion for the quarter, compared to the consensus estimate of $30.42 billion. Comcast had a net margin of 15.00% and a return on equity of 15.47%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.09 EPS. On average, equities research analysts forecast that Comcast Corporation will post 3.58 earnings per share for the current year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.32 annualized dividend and a yield of 5.3%. Comcast’s dividend payout ratio is 25.98%.

Comcast Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.