PNC Financial Services Group Inc. Trims Stock Position in Comcast Co. (NASDAQ:CMCSA)

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PNC Financial Services Group Inc. lessened its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,926,115 shares of the cable giant’s stock after selling 573,723 shares during the period. PNC Financial Services Group Inc. owned approximately 0.20% of Comcast worth $347,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Advisor OS LLC purchased a new position in Comcast in the second quarter valued at $422,000. Handelsbanken Fonder AB increased its holdings in Comcast by 127.1% in the second quarter. Handelsbanken Fonder AB now owns 1,274,478 shares of the cable giant’s stock valued at $49,679,000 after buying an additional 713,161 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Comcast by 14.9% in the second quarter. Sequoia Financial Advisors LLC now owns 145,295 shares of the cable giant’s stock valued at $5,664,000 after buying an additional 18,893 shares in the last quarter. Stephens Inc. AR increased its holdings in Comcast by 4.0% in the second quarter. Stephens Inc. AR now owns 316,223 shares of the cable giant’s stock valued at $12,326,000 after buying an additional 12,069 shares in the last quarter. Finally, Fiduciary Planning LLC purchased a new position in Comcast in the second quarter valued at $1,046,000. 82.80% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have weighed in on CMCSA shares. Wells Fargo & Company lifted their price objective on shares of Comcast from $42.00 to $47.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Pivotal Research reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Comcast in a report on Thursday, July 30th. Sanford C. Bernstein upgraded shares of Comcast from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $52.00 in a research report on Wednesday, July 1st. Morgan Stanley lifted their target price on shares of Comcast from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, BidaskClub upgraded shares of Comcast from a “hold” rating to a “buy” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.41.

In other news, CEO Jeff Shell sold 99,484 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $42.91, for a total value of $4,268,858.44. 1.14% of the stock is owned by corporate insiders.

CMCSA traded up $1.19 during trading hours on Tuesday, hitting $46.46. 18,414,020 shares of the company’s stock were exchanged, compared to its average volume of 22,663,064. Comcast Co. has a 12-month low of $31.70 and a 12-month high of $47.74. The firm has a 50 day moving average of $43.72 and a 200 day moving average of $39.84. The firm has a market cap of $206.80 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 1.91 and a beta of 0.95. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.25.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, July 30th. The cable giant reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.14. Comcast had a net margin of 10.91% and a return on equity of 16.66%. The firm had revenue of $23.72 billion for the quarter, compared to the consensus estimate of $23.56 billion. During the same period in the prior year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. As a group, research analysts expect that Comcast Co. will post 2.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Wednesday, October 7th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, October 6th. Comcast’s payout ratio is 29.39%.

Comcast Profile

Comcast Corporation operates as a media and technology company worldwide. It operates through Cable Communications, Cable Networks, Broadcast Television, Filmed Entertainment, Theme Parks, and Sky segments. The Cable Communications segment offers cable services, including high-speed Internet, video, voice, and security and automation services to residential and business customers under the Xfinity name; and advertising services.

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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