MidFirst Bank Acquires New Stake in Comcast Corporation $CMCSA

MidFirst Bank bought a new stake in Comcast Corporation (NASDAQ:CMCSA) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 59,343 shares of the cable giant’s stock, valued at approximately $1,774,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Imprint Wealth LLC bought a new stake in shares of Comcast during the 3rd quarter valued at about $26,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Comcast in the 4th quarter worth approximately $27,000. United Financial Planning Group LLC purchased a new position in shares of Comcast in the third quarter worth approximately $28,000. Olistico Wealth LLC purchased a new position in shares of Comcast in the fourth quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. grew its position in Comcast by 212.6% during the fourth quarter. Richardson Financial Services Inc. now owns 1,016 shares of the cable giant’s stock valued at $30,000 after buying an additional 691 shares during the period. 84.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Morgan Stanley increased their price target on shares of Comcast from $31.00 to $33.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Comcast in a research note on Wednesday, April 8th. Wall Street Zen raised Comcast to a “hold” rating in a report on Saturday, March 14th. Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Moffett Nathanson cut their price target on Comcast from $53.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $34.52.

Comcast Stock Down 1.1%

CMCSA opened at $22.43 on Friday. The stock has a market cap of $80.13 billion, a price-to-earnings ratio of 4.42, a price-to-earnings-growth ratio of 1.85 and a beta of 0.67. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.87 and a current ratio of 0.87. The firm’s fifty day moving average is $25.94 and its 200 day moving average is $28.23. Comcast Corporation has a fifty-two week low of $22.38 and a fifty-two week high of $36.66.

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

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be issued a $0.33 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.9%. Comcast’s payout ratio is 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.