Baird Financial Group Inc. Has $14.24 Million Stake in Comcast Corporation $CMCSA

Key Points

• Baird Financial Group reduced its Comcast stake by 21.1% in the second quarter, selling 155,499 shares and retaining 580,096 shares valued at approximately $14.24 million. Institutional investors collectively own 84.32% of Comcast.
• Comcast reported quarterly earnings of $1.04 per share, exceeding estimates of $0.97, while revenue reached $29.94 billion. Revenue declined 1.2% year over year, and analysts currently have a consensus “Hold” rating with an average price target of $32.96.
• The company declared a quarterly dividend of $0.33 per share, equivalent to $1.32 annually and a 5.2% yield, with a payout ratio of 42.72%.

Baird Financial Group Inc. lowered its stake in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 21.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 580,096 shares of the cable giant's stock after selling 155,499 shares during the period. Baird Financial Group Inc.'s holdings in Comcast were worth $14,241,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Empirical Finance LLC grew its position in shares of Comcast by 8.0% during the 2nd quarter. Empirical Finance LLC now owns 164,926 shares of the cable giant's stock worth $4,049,000 after buying an additional 12,262 shares during the period. Nykredit A S acquired a new position in Comcast in the second quarter valued at approximately $137,515,000. Parkside Financial Bank & Trust boosted its stake in Comcast by 5.5% in the second quarter. Parkside Financial Bank & Trust now owns 32,274 shares of the cable giant's stock valued at $845,000 after acquiring an additional 1,684 shares during the last quarter. Brown Lisle Cummings Inc. boosted its stake in Comcast by 1.8% in the second quarter. Brown Lisle Cummings Inc. now owns 29,207 shares of the cable giant's stock valued at $718,000 after acquiring an additional 508 shares during the last quarter. Finally, VELA Investment Management LLC grew its holdings in Comcast by 46.3% during the 2nd quarter. VELA Investment Management LLC now owns 18,132 shares of the cable giant's stock worth $445,000 after acquiring an additional 5,739 shares during the period. Institutional investors own 84.32% of the company's stock.

Comcast Price Performance

CMCSA stock opened at $25.20 on Friday. The stock has a 50-day moving average price of $25.01 and a two-hundred day moving average price of $26.28. Comcast Corporation has a 1 year low of $21.28 and a 1 year high of $33.38. The stock has a market cap of $89.43 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 1.79 and a beta of 0.68. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.94.

Comcast (NASDAQ:CMCSA - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The cable giant reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.97 by $0.07. The company had revenue of $29.94 billion for the quarter, compared to analyst estimates of $29.24 billion. Comcast had a return on equity of 14.77% and a net margin of 8.97%.The company's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 earnings per share. Equities analysts forecast that Comcast Corporation will post 3.52 EPS for the current fiscal year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Wednesday, October 7th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Wednesday, October 7th. Comcast's dividend payout ratio (DPR) is currently 42.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMCSA. Freedom Capital upgraded Comcast to a "hold" rating in a report on Friday, June 12th. Sanford C. Bernstein restated a "market perform" rating and set a $28.00 target price on shares of Comcast in a research report on Monday, July 13th. Weiss Ratings cut Comcast from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 28th. Moffett Nathanson cut their price target on shares of Comcast from $53.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. Finally, Wells Fargo & Company set a $23.00 price objective on shares of Comcast and gave the stock an "underweight" rating in a research note on Friday, July 24th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Comcast presently has an average rating of "Hold" and an average price target of $32.96.

Comcast Company Profile

Comcast Corporation NASDAQ: CMCSA is a global media and technology company that provides broadband, wireless, video, voice and related services to residential and business customers. Through its connectivity businesses, Comcast offers internet access, mobile service, pay television, telephone service, and home security and automation products, primarily under the Xfinity brand in the United States.

Comcast also operates a broad portfolio of entertainment and media businesses. NBCUniversal includes the NBC and Telemundo broadcast networks, cable networks, film and television studios, the Peacock streaming service, and a collection of theme parks.

Want to see what other hedge funds are holding CMCSA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comcast Corporation (NASDAQ:CMCSA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.