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

Pinebridge Investments L.P. lessened its position in shares of Comcast Co. (NASDAQ:CMCSA - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,405,064 shares of the cable giant's stock after selling 49,447 shares during the period. Comcast comprises 0.7% of Pinebridge Investments L.P.'s holdings, making the stock its 23rd largest position. Pinebridge Investments L.P. owned approximately 0.06% of Comcast worth $90,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors lifted its position in shares of Comcast by 8.6% in the fourth quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock valued at $5,317,167,000 after buying an additional 11,255,683 shares during the last quarter. Norges Bank bought a new position in Comcast during the fourth quarter worth $3,835,226,000. Geode Capital Management LLC raised its position in shares of Comcast by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 85,812,139 shares of the cable giant's stock valued at $3,212,244,000 after purchasing an additional 1,006,272 shares during the period. Dodge & Cox boosted its holdings in shares of Comcast by 6.8% during the 4th quarter. Dodge & Cox now owns 79,102,667 shares of the cable giant's stock worth $2,968,723,000 after buying an additional 5,039,823 shares during the period. Finally, Invesco Ltd. lifted its position in Comcast by 11.5% during the fourth quarter. Invesco Ltd. now owns 45,175,969 shares of the cable giant's stock worth $1,695,454,000 after acquiring an additional 4,669,069 shares during the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ:CMCSA traded down $0.21 during trading hours on Monday, reaching $33.70. The company had a trading volume of 7,996,402 shares, compared to its average volume of 21,766,155. The firm has a market cap of $127.40 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 1.78 and a beta of 0.94. 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 firm's 50 day moving average price is $35.35 and its 200-day moving average price is $38.03. Comcast Co. has a 52 week low of $31.44 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The cable giant reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. The business had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. During the same quarter last year, the company posted $1.04 EPS. The company's revenue was down .6% compared to the same quarter last year. On average, analysts forecast that Comcast Co. will post 4.33 EPS for the current year.

Comcast Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Wednesday, April 2nd were issued a $0.33 dividend. The ex-dividend date was Wednesday, April 2nd. This is a boost from Comcast's previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 3.92%. Comcast's payout ratio is currently 32.43%.

Analyst Ratings Changes

CMCSA has been the topic of several recent research reports. Benchmark lowered their price objective on Comcast from $57.00 to $55.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. The Goldman Sachs Group cut their price target on shares of Comcast from $50.00 to $44.00 and set a "buy" rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on Comcast from $45.00 to $39.00 and set a "neutral" rating on the stock in a research report on Friday, January 31st. Bank of America downgraded shares of Comcast from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $50.00 to $38.00 in a report on Friday, January 31st. Finally, BNP Paribas downgraded shares of Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price on the stock. in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $41.88.

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.