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Comcast Corporation (NASDAQ:CMCSA) Shares Sold by Massachusetts Financial Services Co. MA

Comcast logo with Consumer Discretionary background

Massachusetts Financial Services Co. MA reduced its position in Comcast Corporation (NASDAQ:CMCSA - Free Report) by 18.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,542,904 shares of the cable giant's stock after selling 4,812,306 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.57% of Comcast worth $794,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new stake in shares of Comcast during the 1st quarter worth about $26,000. Abound Financial LLC purchased a new stake in Comcast during the first quarter worth approximately $29,000. Retirement Wealth Solutions LLC increased its position in shares of Comcast by 126.9% in the first quarter. Retirement Wealth Solutions LLC now owns 801 shares of the cable giant's stock worth $30,000 after acquiring an additional 448 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in shares of Comcast in the 4th quarter valued at $33,000. Finally, Global Wealth Strategies & Associates lifted its holdings in shares of Comcast by 203.4% during the 1st quarter. Global Wealth Strategies & Associates now owns 895 shares of the cable giant's stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 84.32% of the company's stock.

Comcast Stock Performance

NASDAQ:CMCSA traded up $0.65 during trading hours on Monday, reaching $35.64. 18,539,932 shares of the stock were exchanged, compared to its average volume of 24,727,025. The stock has a market capitalization of $133.07 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.69 and a beta of 0.95. The firm has a 50 day simple moving average of $34.96 and a 200-day simple moving average of $35.39. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.06. Comcast Corporation has a 52 week low of $31.44 and a 52 week high of $45.31.

Comcast (NASDAQ:CMCSA - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The cable giant reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.08. Comcast had a return on equity of 19.70% and a net margin of 12.72%. The firm had revenue of $29.89 billion for the quarter, compared to analysts' expectations of $29.82 billion. During the same period last year, the business posted $1.04 earnings per share. The firm's revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Comcast Corporation will post 4.33 earnings per share for the current fiscal year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Wednesday, July 2nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, July 2nd. Comcast's dividend payout ratio (DPR) is presently 32.43%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company downgraded Comcast from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $37.00 to $31.00 in a report on Monday, April 14th. TD Cowen lowered their target price on Comcast from $46.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Evercore ISI reduced their price target on Comcast from $44.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. BNP Paribas Exane lowered their price objective on shares of Comcast from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Finally, Rothschild & Co Redburn reduced their target price on shares of Comcast from $44.00 to $35.00 in a research report on Friday, June 20th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $40.98.

Get Our Latest Analysis on Comcast

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

Institutional Ownership by Quarter for Comcast (NASDAQ:CMCSA)

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