Brown Advisory Inc. Trims Stake in Comcast Corporation $CMCSA

Brown Advisory Inc. lowered its holdings in Comcast Corporation (NASDAQ:CMCSA) by 6.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,331,844 shares of the cable giant’s stock after selling 98,270 shares during the period. Brown Advisory Inc.’s holdings in Comcast were worth $39,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Beta Wealth Group Inc. purchased a new stake in Comcast in the fourth quarter valued at $221,000. Atlas Capital Advisors Inc. purchased a new stake in Comcast in the fourth quarter valued at $852,000. Jacobi Capital Management LLC raised its position in Comcast by 39.8% in the fourth quarter. Jacobi Capital Management LLC now owns 42,031 shares of the cable giant’s stock valued at $1,256,000 after purchasing an additional 11,971 shares during the period. CreativeOne Wealth LLC raised its position in Comcast by 15.8% in the fourth quarter. CreativeOne Wealth LLC now owns 54,750 shares of the cable giant’s stock valued at $1,636,000 after purchasing an additional 7,464 shares during the period. Finally, Transamerica Financial Advisors LLC raised its position in Comcast by 9.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 32,727 shares of the cable giant’s stock valued at $978,000 after purchasing an additional 2,702 shares during the period. Hedge funds and other institutional investors own 84.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CMCSA shares. Morgan Stanley lifted their price objective on Comcast from $31.00 to $33.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Evercore lifted their price objective on Comcast from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Comcast in a research note on Thursday, April 23rd. Wall Street Zen raised Comcast to a “hold” rating in a research note on Saturday, March 14th. Finally, New Street Research dropped their price objective on Comcast from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Comcast has an average rating of “Hold” and an average target price of $34.56.

Comcast Trading Down 2.2%

CMCSA opened at $23.97 on Tuesday. Comcast Corporation has a 12 month low of $23.13 and a 12 month high of $36.66. The stock has a market capitalization of $85.63 billion, a price-to-earnings ratio of 4.72, a PEG ratio of 1.99 and a beta of 0.68. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.87 and a quick ratio of 0.87. The business has a fifty day moving average price of $26.24 and a 200 day moving average price of $28.31.

Comcast (NASDAQ:CMCSA) last released its earnings results on Thursday, April 23rd. The cable giant reported $0.79 EPS for the quarter, topping the consensus estimate of $0.73 by $0.06. Comcast had a return on equity of 15.47% and a net margin of 15.00%.The firm had revenue of $31.46 billion during the quarter, compared to analysts’ expectations of $30.42 billion. During the same period in the previous year, the firm posted $1.09 EPS. Comcast’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts expect that Comcast Corporation will post 3.53 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Wednesday, July 1st. Comcast’s dividend payout ratio is currently 25.98%.

About Comcast

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.