Midland Wealth Advisors LLC Takes Position in Comcast Co. (NASDAQ:CMCSA)

Midland Wealth Advisors LLC bought a new position in Comcast Co. (NASDAQ:CMCSAFree Report) during the 4th quarter, Holdings Channel reports. The fund bought 24,639 shares of the cable giant’s stock, valued at approximately $1,080,000.

Other large investors have also recently made changes to their positions in the company. Greenwich Wealth Management LLC boosted its stake in shares of Comcast by 2.6% during the 4th quarter. Greenwich Wealth Management LLC now owns 8,492 shares of the cable giant’s stock worth $372,000 after acquiring an additional 219 shares in the last quarter. Legend Financial Advisors Inc. boosted its stake in shares of Comcast by 17.5% during the 4th quarter. Legend Financial Advisors Inc. now owns 1,478 shares of the cable giant’s stock worth $65,000 after acquiring an additional 220 shares in the last quarter. Beaumont Asset Management L.L.C. boosted its stake in shares of Comcast by 1.6% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 14,141 shares of the cable giant’s stock worth $620,000 after acquiring an additional 226 shares in the last quarter. Keystone Financial Services boosted its stake in shares of Comcast by 1.1% during the 4th quarter. Keystone Financial Services now owns 20,432 shares of the cable giant’s stock worth $896,000 after acquiring an additional 229 shares in the last quarter. Finally, Bollard Group LLC boosted its stake in shares of Comcast by 0.7% during the 4th quarter. Bollard Group LLC now owns 36,996 shares of the cable giant’s stock worth $1,622,000 after acquiring an additional 244 shares in the last quarter. 84.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CMCSA shares. Redburn Atlantic lowered shares of Comcast from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $50.00 to $44.00 in a research note on Thursday, February 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $50.00 price target on shares of Comcast in a research note on Tuesday, March 26th. Scotiabank decreased their price target on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Friday, April 26th. Finally, StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus target price of $48.83.

Read Our Latest Research Report on CMCSA

Comcast Trading Down 1.3 %

Shares of NASDAQ CMCSA traded down $0.49 during midday trading on Wednesday, reaching $37.83. 18,888,945 shares of the stock were exchanged, compared to its average volume of 20,265,752. The company has a 50 day simple moving average of $39.20 and a 200 day simple moving average of $41.74. The stock has a market capitalization of $148.43 billion, a P/E ratio of 10.01, a PEG ratio of 0.97 and a beta of 1.00. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. Comcast Co. has a twelve month low of $36.43 and a twelve month high of $47.46.

Comcast (NASDAQ:CMCSAGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The cable giant reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $30.06 billion during the quarter, compared to the consensus estimate of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. As a group, equities analysts expect that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be issued a $0.31 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.24 annualized dividend and a yield of 3.28%. Comcast’s dividend payout ratio (DPR) is presently 32.80%.

Insider Activity at Comcast

In related news, major shareholder Corp Comcast sold 3,176,923 shares of Comcast stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the completion of the sale, the insider now owns 2,000,000 shares in the company, valued at approximately $6,380,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is owned by insiders.

About Comcast

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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