Massachusetts Financial Services Co. MA Sells 11,872,031 Shares of Comcast Co. (NASDAQ:CMCSA)

Massachusetts Financial Services Co. MA reduced its stake in Comcast Co. (NASDAQ:CMCSA) by 21.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,421,190 shares of the cable giant’s stock after selling 11,872,031 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.13% of Comcast worth $1,813,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CMCSA. Fairscale Capital LLC acquired a new position in shares of Comcast in the 2nd quarter valued at approximately $26,000. Strategic Financial Concepts LLC bought a new position in Comcast in the second quarter valued at approximately $27,000. IAG Wealth Partners LLC raised its position in Comcast by 204.7% during the second quarter. IAG Wealth Partners LLC now owns 777 shares of the cable giant’s stock valued at $30,000 after purchasing an additional 522 shares in the last quarter. McClarren Financial Advisors Inc. lifted its stake in Comcast by 365.4% during the third quarter. McClarren Financial Advisors Inc. now owns 726 shares of the cable giant’s stock worth $30,000 after purchasing an additional 570 shares during the last quarter. Finally, Archer Investment Corp boosted its holdings in shares of Comcast by 177.1% in the 2nd quarter. Archer Investment Corp now owns 812 shares of the cable giant’s stock valued at $32,000 after purchasing an additional 519 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company’s stock.

Comcast Trading Up 1.6 %

NASDAQ:CMCSA opened at $42.99 on Thursday. Comcast Co. has a 52 week low of $36.43 and a 52 week high of $47.11. The firm’s fifty day moving average is $41.82 and its 200-day moving average is $39.97. The firm has a market cap of $164.50 billion, a P/E ratio of 11.56, a P/E/G ratio of 1.60 and a beta of 1.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.72 and a current ratio of 0.72.

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

Comcast Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 8th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, January 8th. Comcast’s dividend payout ratio (DPR) is 33.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $45.00 price target on shares of Comcast in a research note on Wednesday, November 6th. Pivotal Research raised their target price on shares of Comcast from $47.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays upped their price target on shares of Comcast from $40.00 to $42.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. TD Cowen cut their price objective on Comcast from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, KeyCorp upped their target price on Comcast from $44.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Comcast has an average rating of “Moderate Buy” and a consensus price target of $47.19.

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.