PNC Financial Services Group Inc. Cuts Holdings in Comcast Co. (NASDAQ:CMCSA)

PNC Financial Services Group Inc. lessened its stake in Comcast Co. (NASDAQ:CMCSA) by 13.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,018,507 shares of the cable giant’s stock after selling 934,705 shares during the quarter. PNC Financial Services Group Inc. owned 0.16% of Comcast worth $251,393,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in Comcast during the 2nd quarter worth $26,000. Strategic Financial Concepts LLC acquired a new stake in Comcast during the 2nd quarter worth $27,000. IAG Wealth Partners LLC raised its holdings in shares of Comcast by 204.7% in the second 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 during the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of 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 period. Finally, Archer Investment Corp lifted 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 acquiring an additional 519 shares during the period. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Stock Up 0.3 %

Shares of NASDAQ CMCSA opened at $43.00 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $164.54 billion, a PE ratio of 11.56, a P/E/G ratio of 1.63 and a beta of 1.00. The firm has a fifty day moving average of $41.67 and a 200-day moving average of $39.93. Comcast Co. has a 52-week low of $36.43 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion during the quarter, compared to analyst estimates of $31.78 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, analysts anticipate that Comcast Co. will post 4.25 EPS for the current year.

Comcast Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Investors of record on Wednesday, January 8th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

CMCSA has been the topic of several recent research reports. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Pivotal Research boosted their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Scotiabank upgraded shares of Comcast from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $47.75 to $48.00 in a report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $60.00 target price on shares of Comcast in a research note on Tuesday. Finally, KeyCorp lifted their price objective on Comcast from $44.00 to $47.00 and gave the stock an “overweight” 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 and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.19.

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.