Baker Tilly Wealth Management LLC Cuts Stock Position in Comcast Co. (NASDAQ:CMCSA)

Baker Tilly Wealth Management LLC decreased its holdings in shares of Comcast Co. (NASDAQ:CMCSA) by 20.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,926 shares of the cable giant’s stock after selling 5,362 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Comcast were worth $785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fortitude Family Office LLC raised its holdings in shares of Comcast by 36.1% during the fourth quarter. Fortitude Family Office LLC now owns 2,251 shares of the cable giant’s stock valued at $84,000 after acquiring an additional 597 shares during the last quarter. Michael S. Ryan Inc. increased its position in shares of Comcast by 19.6% during the fourth quarter. Michael S. Ryan Inc. now owns 8,685 shares of the cable giant’s stock worth $326,000 after purchasing an additional 1,424 shares in the last quarter. InvesTrust acquired a new position in Comcast in the 4th quarter valued at $441,000. Range Financial Group LLC acquired a new stake in Comcast during the 4th quarter worth $245,000. Finally, Diversified Trust Co grew its holdings in shares of Comcast by 7.3% during the fourth quarter. Diversified Trust Co now owns 223,567 shares of the cable giant’s stock worth $8,390,000 after buying an additional 15,305 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Stock Performance

Shares of NASDAQ CMCSA traded down $0.49 during trading hours on Friday, reaching $36.68. The stock had a trading volume of 8,227,710 shares, compared to its average volume of 21,931,592. The firm has a market cap of $140.36 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 1.50 and a beta of 1.01. Comcast Co. has a fifty-two week low of $36.24 and a fifty-two week high of $47.11. The firm has a 50-day moving average of $40.83 and a 200-day moving average of $40.25. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.14.

Comcast (NASDAQ:CMCSA) last issued its quarterly earnings data on Thursday, October 31st. The cable giant reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.06. Comcast had a net margin of 11.92% and a return on equity of 19.81%. The company had revenue of $32.07 billion for the quarter, compared to the consensus estimate of $31.78 billion. During the same period last year, the firm posted $1.08 EPS. Comcast’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts predict that Comcast Co. will post 4.26 earnings per share for the current year.

Comcast Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity

In other news, President Michael J. Cavanagh sold 25,537 shares of Comcast stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now directly owns 534,849 shares in the company, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian L. Roberts sold 234,464 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total value of $10,002,234.24. Following the completion of the sale, the chief executive officer now owns 6,669,928 shares in the company, valued at approximately $284,539,128.48. This represents a 3.40 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CMCSA shares. Evercore ISI raised Comcast to a “strong-buy” rating in a research note on Thursday, November 21st. Macquarie reissued a “neutral” rating and issued a $42.00 price objective on shares of Comcast in a report on Monday. KeyCorp lifted their target price on shares of Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Seaport Res Ptn raised shares of Comcast from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Finally, Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Comcast in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus target price of $47.33.

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.