Massachusetts Financial Services Co. MA Lowers Holdings in Comcast Co. (NASDAQ:CMCSA)

Massachusetts Financial Services Co. MA trimmed its position 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 fund owned 55,293,221 shares of the cable giant’s stock after selling 32,054,190 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.41% of Comcast worth $2,165,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steph & Co. lifted its holdings in shares of Comcast by 154.6% during the first quarter. Steph & Co. now owns 611 shares of the cable giant’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Comcast during the 2nd quarter valued at about $27,000. OLD Point Trust & Financial Services N A purchased a new stake in shares of Comcast during the 4th quarter valued at about $28,000. IAG Wealth Partners LLC grew its stake in shares of Comcast by 204.7% in the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock worth $30,000 after acquiring an additional 522 shares during the period. Finally, Pineridge Advisors LLC purchased a new position in shares of Comcast during the fourth quarter valued at approximately $32,000. 84.32% of the stock is currently owned by institutional investors.

Comcast Stock Performance

Shares of NASDAQ CMCSA opened at $39.55 on Monday. The company has a market cap 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. The firm’s fifty day moving average is $39.36 and its two-hundred day 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 52-week low of $36.43 and a 52-week high of $47.11.

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

Comcast Announces Dividend

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

Analyst Ratings Changes

A number of research firms have commented on CMCSA. Evercore ISI cut their target price on shares of Comcast from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. BNP Paribas lowered Comcast from a “neutral” rating to an “underperform” rating and set a $34.00 price objective for the company. in a report on Tuesday, June 11th. StockNews.com downgraded Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group assumed coverage on shares of Comcast in a report on Tuesday, June 25th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Seaport Res Ptn downgraded shares of Comcast from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Comcast has an average rating of “Hold” and a consensus target price of $45.78.

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.