Pinnacle Financial Partners Inc Has $22.06 Million Stake in Comcast Co. (NASDAQ:CMCSA)

Pinnacle Financial Partners Inc lessened its holdings in Comcast Co. (NASDAQ:CMCSA) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 528,221 shares of the cable giant’s stock after selling 3,111 shares during the period. Pinnacle Financial Partners Inc’s holdings in Comcast were worth $22,064,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fairscale Capital LLC acquired a new stake in Comcast during the second quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in Comcast during the 2nd quarter worth $27,000. IAG Wealth Partners LLC boosted its holdings in 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 acquiring an additional 522 shares during the last quarter. McClarren Financial Advisors Inc. grew its position in shares of Comcast by 365.4% during the 3rd 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 raised its position in shares of 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 acquiring an additional 519 shares during the last quarter. Institutional investors own 84.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CMCSA. Scotiabank upgraded Comcast from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the company from $47.75 to $48.00 in a report on Friday, November 1st. Pivotal Research raised their target price on shares of Comcast from $47.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Benchmark restated a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Wednesday, October 30th. KeyCorp lifted their price target on shares of Comcast from $44.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, TD Cowen reduced their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

Comcast Price Performance

Comcast stock opened at $44.04 on Wednesday. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.11. The stock has a market cap of $168.52 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.68 and a beta of 1.00. The firm has a 50-day moving average of $41.36 and a two-hundred day moving average of $39.79. 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 released its quarterly earnings results on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.06. Comcast had a return on equity of 19.81% and a net margin of 11.92%. The company had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same period last year, the business posted $1.08 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, research analysts forecast that Comcast Co. will post 4.25 earnings per share for the current year.

Comcast Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Wednesday, January 8th will be issued a $0.31 dividend. The ex-dividend date is Wednesday, January 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.82%. Comcast’s payout ratio is currently 33.33%.

About Comcast

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.