Pinebridge Investments L.P. Sells 49,447 Shares of Comcast Co. (NASDAQ:CMCSA)

Pinebridge Investments L.P. decreased its position in Comcast Co. (NASDAQ:CMCSA) by 2.0% during the 4th quarter, Holdings Channel reports. The firm owned 2,405,064 shares of the cable giant’s stock after selling 49,447 shares during the quarter. Comcast makes up 0.7% of Pinebridge Investments L.P.’s investment portfolio, making the stock its 23rd biggest holding. Pinebridge Investments L.P.’s holdings in Comcast were worth $90,262,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. Promus Capital LLC acquired a new stake in shares of Comcast during the fourth quarter worth approximately $25,000. Winch Advisory Services LLC increased its holdings in Comcast by 269.9% during the 4th quarter. Winch Advisory Services LLC now owns 688 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 502 shares in the last quarter. Roxbury Financial LLC bought a new position in Comcast in the 4th quarter valued at $27,000. Wingate Wealth Advisors Inc. acquired a new position in Comcast in the fourth quarter worth $28,000. Finally, OFI Invest Asset Management bought a new stake in shares of Comcast during the fourth quarter worth $37,000. 84.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CMCSA shares. UBS Group cut their price target on Comcast from $47.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. JPMorgan Chase & Co. reduced their target price on shares of Comcast from $45.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Sanford C. Bernstein set a $38.00 price target on shares of Comcast in a report on Friday, January 31st. Benchmark reduced their price objective on Comcast from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, BNP Paribas cut Comcast from a “neutral” rating to an “underperform” rating and set a $31.00 target price for the company. in a research note on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Comcast currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Comcast Stock Performance

Shares of Comcast stock opened at $34.20 on Wednesday. Comcast Co. has a 12 month low of $32.20 and a 12 month high of $45.31. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $129.31 billion, a PE ratio of 8.24, a PEG ratio of 1.78 and a beta of 0.94. The stock’s fifty day simple moving average is $35.46 and its 200 day simple moving average is $38.20.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings data on Thursday, January 30th. The cable giant reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.08. Comcast had a return on equity of 19.98% and a net margin of 13.09%. On average, research analysts predict that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. This is an increase from Comcast’s previous quarterly dividend of $0.31. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.86%. Comcast’s dividend payout ratio is currently 31.81%.

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.