Comcast Corporation $CMCSA Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. has decreased its stake in Comcast Corporation by 15.5%, selling 214,301 shares to hold a total of 1,171,030 shares, valued at approximately $43.2 million.
• Several analysts have adjusted their price targets for Comcast, with UBS lowering it from $40.00 to $36.00 and Barclays from $35.00 to $34.00, while the stock currently has a consensus target price of $40.73.
• Comcast recently reported earnings per share of $1.25 for the last quarter, exceeding analysts' expectations, with revenue increasing by 2.1% year-over-year to $30.31 billion.

Baird Financial Group Inc. decreased its holdings in shares of Comcast Corporation (NASDAQ:CMCSA - Free Report) by 15.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,171,030 shares of the cable giant's stock after selling 214,301 shares during the period. Baird Financial Group Inc.'s holdings in Comcast were worth $43,211,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Comcast by 150.9% in the 4th quarter. Brighton Jones LLC now owns 166,265 shares of the cable giant's stock valued at $6,240,000 after buying an additional 99,986 shares in the last quarter. Gallagher Fiduciary Advisors LLC boosted its stake in Comcast by 35.3% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 9,991 shares of the cable giant's stock worth $375,000 after purchasing an additional 2,606 shares in the last quarter. AXA S.A. boosted its stake in Comcast by 6.0% in the 4th quarter. AXA S.A. now owns 1,738,884 shares of the cable giant's stock worth $65,260,000 after purchasing an additional 98,319 shares in the last quarter. Aspire Growth Partners LLC acquired a new stake in Comcast in the 4th quarter worth approximately $364,000. Finally, Aptus Capital Advisors LLC boosted its stake in Comcast by 27.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 235,561 shares of the cable giant's stock worth $8,841,000 after purchasing an additional 51,259 shares in the last quarter. Hedge funds and other institutional investors own 84.32% of the company's stock.

Comcast Stock Performance

Shares of NASDAQ:CMCSA traded down $0.24 during trading on Wednesday, hitting $33.89. 17,907,194 shares of the stock traded hands, compared to its average volume of 19,702,632. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.99. The company has a market cap of $125.13 billion, a price-to-earnings ratio of 7.69, a P/E/G ratio of 2.03 and a beta of 0.93. The company has a fifty day moving average price of $34.10 and a two-hundred day moving average price of $34.72. Comcast Corporation has a 52-week low of $31.03 and a 52-week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last posted its earnings results on Thursday, July 31st. The cable giant reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $30.31 billion during the quarter, compared to analyst estimates of $29.81 billion. Comcast had a net margin of 18.44% and a return on equity of 18.86%. The business's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. As a group, equities analysts predict that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Wednesday, October 1st will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Wednesday, October 1st. Comcast's payout ratio is presently 21.82%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CMCSA shares. UBS Group lowered their target price on shares of Comcast from $40.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Rothschild & Co Redburn lowered their target price on shares of Comcast from $44.00 to $35.00 in a research note on Friday, June 20th. Barclays lowered their target price on shares of Comcast from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Friday, August 1st. Rosenblatt Securities lifted their price objective on shares of Comcast from $37.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 4th. Finally, Citigroup restated a "buy" rating on shares of Comcast in a research note on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $40.73.

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.