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

Pitcairn Co. lowered its position in Comcast Co. (NASDAQ:CMCSA) by 12.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor 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 reporting period.

A number of other institutional investors have also bought and sold shares of the business. Fairscale Capital LLC purchased a new stake in Comcast during the 2nd quarter valued at approximately $26,000. McClarren Financial Advisors Inc. grew its holdings in Comcast by 365.4% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock valued at $30,000 after buying an additional 570 shares in the last quarter. Iron Horse Wealth Management LLC grew its holdings in Comcast by 220.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 759 shares of the cable giant’s stock valued at $32,000 after buying an additional 522 shares in the last quarter. IAG Wealth Partners LLC grew its holdings in Comcast by 204.7% during the 2nd quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after buying an additional 522 shares in the last quarter. Finally, Archer Investment Corp grew its holdings in Comcast by 177.1% during the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after buying an additional 519 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Ratings Changes

CMCSA has been the subject of a number of research analyst reports. Scotiabank raised shares of Comcast from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $47.75 to $48.00 in a report on Friday, November 1st. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 target price on shares of Comcast in a report on Wednesday, November 6th. Evercore ISI raised shares of Comcast to a “strong-buy” rating in a report on Thursday. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Barclays raised their target price on shares of Comcast from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.19.

Comcast Stock Down 0.1 %

NASDAQ:CMCSA opened at $43.47 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $41.98 and a 200-day simple moving average of $40.03. The company has a market cap of $166.34 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.06. The firm had revenue of $32.07 billion during the quarter, compared to the consensus estimate of $31.78 billion. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. Analysts anticipate that Comcast Co. will post 4.26 EPS for the current year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a $1.24 annualized dividend and a yield of 2.85%. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Comcast 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.