Pittenger & Anderson Inc. Cuts Stake in Comcast Co. (NASDAQ:CMCSA)

Pittenger & Anderson Inc. cut its stake in Comcast Co. (NASDAQ:CMCSA) by 2.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 27,279 shares of the cable giant’s stock after selling 803 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Comcast were worth $1,139,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Clarity Financial LLC increased its position in shares of Comcast by 4.4% during the third quarter. Clarity Financial LLC now owns 21,134 shares of the cable giant’s stock worth $883,000 after acquiring an additional 893 shares during the last quarter. United Advisor Group LLC purchased a new stake in shares of Comcast during the third quarter worth about $222,000. FSM Wealth Advisors LLC increased its position in shares of Comcast by 20.6% during the third quarter. FSM Wealth Advisors LLC now owns 9,643 shares of the cable giant’s stock worth $403,000 after acquiring an additional 1,648 shares during the last quarter. Impax Asset Management Group plc grew its stake in Comcast by 145.3% in the third quarter. Impax Asset Management Group plc now owns 42,919 shares of the cable giant’s stock worth $1,793,000 after purchasing an additional 25,419 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its stake in Comcast by 4.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 39,778 shares of the cable giant’s stock worth $1,662,000 after purchasing an additional 1,781 shares in the last quarter. 84.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CMCSA shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price target on Comcast from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 24th. Wells Fargo & Company lifted their target price on Comcast from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, TD Cowen dropped their price target on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Comcast Stock Up 0.1 %

CMCSA opened at $42.56 on Wednesday. The firm’s 50-day simple moving average is $40.89 and its 200-day simple moving average is $39.62. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.11. The firm has a market cap of $164.81 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.14 and a beta of 1.00.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The firm had revenue of $32.07 billion for the quarter, compared to analyst estimates of $31.78 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Equities research analysts anticipate that Comcast Co. will post 4.27 EPS for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, January 8th. 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.