Pinnacle Associates Ltd. Buys 47,883 Shares of Comcast Corporation $CMCSA

Key Points

• Pinnacle Associates increased its Comcast stake by 8.8%, purchasing 47,883 additional shares to reach 589,974 shares valued at approximately $12.8 million. Institutional investors and hedge funds collectively own 84.32% of CMCSA.
• Comcast shares opened at $22.08, near the lower end of their 52-week range, with a market capitalization of $78.35 billion and a P/E ratio of 7.15. The stock also offers a dividend yield near 6%, appealing to value and income-focused investors.
• Comcast exceeded quarterly earnings and revenue expectations, but revenue declined 1.2% year over year. Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $30.81.

Pinnacle Associates Ltd. increased its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 589,974 shares of the cable giant's stock after purchasing an additional 47,883 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Comcast were worth $12,838,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMCSA. Cedar Mountain Advisors LLC lifted its stake in Comcast by 48.2% during the first quarter. Cedar Mountain Advisors LLC now owns 1,196 shares of the cable giant's stock valued at $34,000 after buying an additional 389 shares in the last quarter. PFG Investments LLC increased its position in shares of Comcast by 0.9% in the first quarter. PFG Investments LLC now owns 41,771 shares of the cable giant's stock worth $1,199,000 after acquiring an additional 391 shares in the last quarter. Simmons Bank increased its position in shares of Comcast by 2.3% in the first quarter. Simmons Bank now owns 17,795 shares of the cable giant's stock worth $511,000 after acquiring an additional 400 shares in the last quarter. Whipplewood Advisors LLC increased its position in shares of Comcast by 75.5% in the first quarter. Whipplewood Advisors LLC now owns 932 shares of the cable giant's stock worth $27,000 after acquiring an additional 401 shares in the last quarter. Finally, Bollard Group LLC boosted its stake in Comcast by 1.1% in the 1st quarter. Bollard Group LLC now owns 37,607 shares of the cable giant's stock worth $1,080,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Down 1.3%

Comcast stock opened at $22.08 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $78.35 billion, a P/E ratio of 7.15, a P/E/G ratio of 1.60 and a beta of 0.68. Comcast Corporation has a 1-year low of $20.48 and a 1-year high of $32.85. The firm's fifty day simple moving average is $23.94 and its 200-day simple moving average is $24.68.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 23rd. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.07. Comcast had a return on equity of 14.77% and a net margin of 8.97%. The company had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same period last year, the company earned $1.25 earnings per share. The business's revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Comcast Corporation will post 3.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Moffett Nathanson reduced their price objective on Comcast from $52.00 to $43.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. Bank of America reissued a "buy" rating and issued a $35.00 price target (down from $37.00) on shares of Comcast in a research report on Wednesday, September 16th. Citigroup decreased their price target on shares of Comcast from $30.00 to $27.50 and set a "buy" rating for the company in a report on Thursday, September 24th. KeyCorp downgraded shares of Comcast from a "sector weight" rating to an "underweight" rating and set a $18.00 price objective on the stock. in a research report on Thursday, September 24th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $31.00 target price on shares of Comcast in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $30.81.

Key Stories Impacting Comcast

Here are the key news stories impacting Comcast this week:

• Positive Sentiment: Comcast trades at roughly six times earnings and offers a dividend yield near 6%, which could appeal to income-oriented and value investors. A potential spinoff may also unlock value if the separated businesses improve their strategic positioning. Comcast Trades at 6 Times Earnings and Yields 6%
• Positive Sentiment: Recent institutional activity was mixed but included sizeable purchases by Invesco, Arrowstreet Capital, JPMorgan and Capital Research, suggesting some large investors view CMCSA’s depressed valuation as attractive.
• Neutral Sentiment: Investors are awaiting third-quarter results, with broadband subscriber trends, revenue, margins and management’s outlook expected to be the main catalysts. Comcast is scheduled to report on October 22. Comcast Q3 2026 Earnings Preview
• Negative Sentiment: Comcast is reportedly planning significant job cuts as part of a restructuring of its cable-TV, broadband and wireless operations. While the reductions could lower costs, they also signal pressure on the company’s core businesses. Comcast Planning Significant Job Cuts
• Negative Sentiment: Management previously indicated that third-quarter broadband subscriber losses were unlikely to improve year over year, amid aggressive, low-priced fiber competition. Investor concerns about another weak broadband quarter have weighed on the stock. Comcast Falls as Investors Brace for Another Tough Broadband Quarter
• Negative Sentiment: Options activity also reflected bearish positioning, with put purchases more than doubling the average daily volume on October 20.

Comcast Profile

Comcast Corporation is a global media and communications company headquartered in Philadelphia, Pennsylvania. Founded in 1963 as American Cable Systems, the company grew through the expansion of cable television and broadband services and adopted the Comcast name in 1969.

Through its Connectivity & Platforms businesses, Comcast provides residential and business customers with broadband internet, video, voice, mobile and related services. Its Xfinity brand offers internet, television, streaming and wireless products in the United States, while Comcast Business serves commercial and enterprise customers with connectivity, communications and technology solutions.

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