Baird Financial Group Inc. Reduces Position in Comcast Corporation $CMCSA

Baird Financial Group Inc. decreased its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 7.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,087,541 shares of the cable giant’s stock after selling 83,489 shares during the period. Baird Financial Group Inc.’s holdings in Comcast were worth $38,814,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CMCSA. Cranbrook Wealth Management LLC increased its holdings in shares of Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after acquiring an additional 350 shares during the period. Global Trust Asset Management LLC grew its position in Comcast by 906.8% during the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock worth $27,000 after purchasing an additional 671 shares during the last quarter. Avalon Trust Co increased its stake in Comcast by 433.3% in the second quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 624 shares during the period. Ransom Advisory Ltd acquired a new position in Comcast in the first quarter valued at $29,000. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Comcast by 403.5% in the second quarter. Princeton Global Asset Management LLC now owns 856 shares of the cable giant’s stock valued at $31,000 after buying an additional 686 shares during the last quarter. 84.32% of the stock is owned by institutional investors and hedge funds.

Comcast Trading Up 0.4%

Shares of CMCSA stock opened at $27.31 on Friday. The business’s fifty day moving average price is $28.48 and its 200 day moving average price is $32.09. The firm has a market capitalization of $99.51 billion, a PE ratio of 4.54, a P/E/G ratio of 1.87 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.88. Comcast Corporation has a 1-year low of $25.75 and a 1-year high of $43.30.

Comcast (NASDAQ:CMCSA) last issued its earnings results on Monday, March 13th. The cable giant reported $0.77 EPS for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The company had revenue of $30.34 billion for the quarter. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 EPS for the current fiscal year.

Comcast Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.8%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio is presently 21.96%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Comcast from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Comcast in a research note on Tuesday, October 14th. Bank of America cut their price target on Comcast from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, September 29th. Daiwa Capital Markets lowered their price objective on shares of Comcast from $38.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 18th. Finally, UBS Group set a $34.00 price objective on shares of Comcast in a research note on Friday, October 31st. Eleven equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.82.

About Comcast

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.