Massachusetts Financial Services Co. MA Sells 32,054,190 Shares of Comcast Co. (NASDAQ:CMCSA)

Massachusetts Financial Services Co. MA lessened its stake in shares of Comcast Co. (NASDAQ:CMCSA) by 36.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 55,293,221 shares of the cable giant’s stock after selling 32,054,190 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Comcast were worth $2,165,283,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital World Investors boosted its position in shares of Comcast by 7.4% during the first quarter. Capital World Investors now owns 115,703,280 shares of the cable giant’s stock valued at $5,015,737,000 after buying an additional 7,929,963 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Comcast by 41.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,016,389 shares of the cable giant’s stock worth $1,214,512,000 after acquiring an additional 8,243,302 shares during the last quarter. Harris Associates L P boosted its holdings in Comcast by 10.9% during the 4th quarter. Harris Associates L P now owns 18,873,787 shares of the cable giant’s stock valued at $827,616,000 after acquiring an additional 1,854,671 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in Comcast by 3.4% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 11,304,304 shares of the cable giant’s stock valued at $495,694,000 after acquiring an additional 368,685 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board increased its stake in Comcast by 25,881.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 10,850,995 shares of the cable giant’s stock worth $470,391,000 after purchasing an additional 10,809,231 shares during the period. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMCSA. Evercore ISI lowered their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $45.00 price objective on shares of Comcast in a research report on Wednesday, July 24th. The Goldman Sachs Group assumed coverage on shares of Comcast in a research report on Tuesday, June 25th. They set a “buy” rating and a $44.00 target price on the stock. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price target for the company. in a report on Tuesday, June 11th. Finally, Barclays reduced their price objective on Comcast from $41.00 to $40.00 and set an “equal weight” rating on the stock in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Comcast presently has a consensus rating of “Hold” and an average price target of $45.78.

Comcast Stock Up 0.6 %

NASDAQ:CMCSA opened at $39.55 on Monday. The company’s 50-day simple moving average is $39.36 and its 200-day simple moving average is $39.72. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.66 and a current ratio of 0.66. Comcast Co. has a fifty-two week low of $36.43 and a fifty-two week high of $47.11. The stock has a market capitalization of $153.16 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.03 and a beta of 1.01.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Tuesday, July 23rd. The cable giant reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Comcast had a net margin of 12.46% and a return on equity of 20.17%. The business had revenue of $29.69 billion for the quarter, compared to analyst estimates of $30.02 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts anticipate that Comcast Co. will post 4.23 earnings per share for the current fiscal year.

Comcast Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.14%. The ex-dividend date is Wednesday, October 2nd. Comcast’s dividend payout ratio is currently 32.80%.

Comcast Profile

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.