Allspring Global Investments Holdings LLC Reduces Holdings in Comcast Corporation $CMCSA

Allspring Global Investments Holdings LLC trimmed its position in shares of Comcast Corporation (NASDAQ:CMCSA) by 66.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 214,796 shares of the cable giant’s stock after selling 419,251 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Comcast were worth $6,345,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CMCSA. Osaic Holdings Inc. increased its stake in shares of Comcast by 39.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,055,192 shares of the cable giant’s stock worth $37,954,000 after acquiring an additional 300,898 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Comcast by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 7,536,937 shares of the cable giant’s stock worth $236,810,000 after acquiring an additional 665,635 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in shares of Comcast by 75.3% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 340,764 shares of the cable giant’s stock worth $10,707,000 after acquiring an additional 146,339 shares during the last quarter. Candriam S.C.A. increased its stake in shares of Comcast by 3.5% in the 3rd quarter. Candriam S.C.A. now owns 952,154 shares of the cable giant’s stock worth $29,917,000 after acquiring an additional 32,262 shares during the last quarter. Finally, Rothschild & Co Wealth Management UK Ltd increased its stake in shares of Comcast by 1.0% in the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 11,327,445 shares of the cable giant’s stock worth $355,908,000 after acquiring an additional 113,461 shares during the last quarter. 84.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael J. Cavanagh sold 57,947 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $32.66, for a total transaction of $1,892,549.02. Following the completion of the transaction, the chief executive officer directly owned 622,336 shares in the company, valued at $20,325,493.76. This trade represents a 8.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on CMCSA shares. Wall Street Zen raised Comcast to a “hold” rating in a research note on Saturday, March 14th. Arete Research set a $23.00 target price on Comcast in a research note on Tuesday, January 6th. Citigroup reaffirmed a “buy” rating and issued a $33.00 target price (up from $32.79) on shares of Comcast in a research note on Friday, January 30th. Pivotal Research cut Comcast from a “strong-buy” rating to a “hold” rating in a report on Friday, January 30th. Finally, Zacks Research upgraded Comcast from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 31st. Ten equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Comcast presently has an average rating of “Hold” and an average price target of $34.71.

Comcast Stock Performance

NASDAQ CMCSA opened at $27.66 on Tuesday. The stock has a market cap of $99.52 billion, a PE ratio of 5.15, a P/E/G ratio of 2.26 and a beta of 0.80. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Comcast Corporation has a twelve month low of $25.75 and a twelve month high of $36.66. The stock has a fifty day simple moving average of $30.24 and a 200-day simple moving average of $29.30.

Comcast (NASDAQ:CMCSA) last released its quarterly earnings results on Thursday, January 29th. The cable giant reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. Comcast had a return on equity of 16.86% and a net margin of 16.17%.The business had revenue of $32.31 billion during the quarter, compared to analysts’ expectations of $32.35 billion. During the same period in the prior year, the business posted $0.96 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. Equities analysts anticipate that Comcast Corporation will post 4.33 earnings per share for the current year.

Comcast Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Wednesday, April 1st will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, April 1st. Comcast’s dividend payout ratio (DPR) is 24.58%.

Comcast Company Profile

Comcast Corporation (NASDAQ: CMCSA) is a diversified global media and technology company headquartered in Philadelphia, Pennsylvania. Its principal operations are organized around Comcast Cable, which provides broadband internet, video, voice and wireless services to residential and business customers in the United States under the Xfinity and Comcast Business brands, and NBCUniversal, a media and entertainment group that develops, produces and distributes content across broadcast and cable networks, film, and streaming platforms.

NBCUniversal’s assets include the NBC broadcast network, a portfolio of cable channels, Universal Pictures and other film and television production businesses, and the Peacock streaming service.