Pinnacle Financial Partners Inc Lowers Stock Position in Comcast Corporation (NASDAQ:CMCSA)

Pinnacle Financial Partners Inc trimmed its holdings in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 2.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 517,946 shares of the cable giant's stock after selling 10,547 shares during the period. Pinnacle Financial Partners Inc's holdings in Comcast were worth $19,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Comcast during the 4th quarter valued at $3,835,226,000. Raymond James Financial Inc. acquired a new position in Comcast in the fourth quarter valued at approximately $743,681,000. Amundi grew its holdings in Comcast by 147.9% in the fourth quarter. Amundi now owns 24,086,671 shares of the cable giant's stock worth $895,499,000 after purchasing an additional 14,369,056 shares during the period. Capital World Investors raised its stake in Comcast by 8.6% during the 4th quarter. Capital World Investors now owns 141,680,277 shares of the cable giant's stock worth $5,317,167,000 after buying an additional 11,255,683 shares during the period. Finally, KBC Group NV lifted its holdings in shares of Comcast by 724.7% in the 1st quarter. KBC Group NV now owns 10,160,649 shares of the cable giant's stock worth $374,927,000 after purchasing an additional 8,928,641 shares in the last quarter. 84.32% of the stock is currently owned by institutional investors.

Comcast Trading Down 1.4%

Shares of NASDAQ:CMCSA traded down $0.50 during midday trading on Wednesday, hitting $35.83. The company had a trading volume of 24,141,771 shares, compared to its average volume of 21,985,485. The stock has a market cap of $133.78 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 1.73 and a beta of 0.95. Comcast Corporation has a 12 month low of $31.44 and a 12 month high of $45.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.06. The firm has a fifty day simple moving average of $34.69 and a 200 day simple moving average of $35.56.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 EPS for the quarter, beating the consensus estimate of $1.01 by $0.08. The company had revenue of $29.89 billion during the quarter, compared to the consensus estimate of $29.82 billion. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. On average, analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 2nd. This represents a $1.32 annualized dividend and a dividend yield of 3.68%. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CMCSA. BNP Paribas lowered Comcast from a "neutral" rating to an "underperform" rating and set a $31.00 target price for the company. in a research report on Thursday, April 10th. Argus cut Comcast from a "buy" rating to a "hold" rating in a research report on Tuesday, May 6th. UBS Group set a $44.50 price objective on Comcast in a report on Friday, April 25th. Barclays reduced their target price on Comcast from $37.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, April 28th. Finally, KeyCorp reduced their price target on shares of Comcast from $47.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $42.10.

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.