Allspring Global Investments Holdings LLC Sells 115,554 Shares of Comcast Co. (NASDAQ:CMCSA)

Allspring Global Investments Holdings LLC cut its holdings in Comcast Co. (NASDAQ:CMCSA) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,741,428 shares of the cable giant’s stock after selling 115,554 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Comcast were worth $76,362,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. NewSquare Capital LLC lifted its stake in shares of Comcast by 94.1% in the third quarter. NewSquare Capital LLC now owns 623 shares of the cable giant’s stock valued at $28,000 after buying an additional 302 shares during the period. Leith Wheeler Investment Counsel Ltd. lifted its stake in shares of Comcast by 299.1% in the fourth quarter. Leith Wheeler Investment Counsel Ltd. now owns 634,727 shares of the cable giant’s stock valued at $28,000 after buying an additional 475,675 shares during the period. Fortis Capital Advisors LLC bought a new stake in shares of Comcast in the fourth quarter valued at about $29,000. DHJJ Financial Advisors Ltd. acquired a new position in Comcast in the third quarter worth about $33,000. Finally, First Personal Financial Services acquired a new position in Comcast in the third quarter worth about $39,000. 84.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMCSA has been the subject of several recent research reports. Pivotal Research increased their price target on shares of Comcast from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 13th. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Comcast in a report on Wednesday, April 3rd. Evercore ISI reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Comcast in a report on Tuesday, March 26th. StockNews.com lowered shares of Comcast from a “strong-buy” rating to a “buy” rating in a report on Friday, March 22nd. Finally, Redburn Atlantic lowered shares of Comcast from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $50.00 to $44.00 in a report on Thursday, February 15th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $49.26.

Insider Activity

In other news, President Michael J. Cavanagh sold 114,749 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $46.10, for a total transaction of $5,289,928.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.18% of the company’s stock.

Comcast Trading Down 1.4 %

Shares of NASDAQ:CMCSA opened at $40.15 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.60 and a quick ratio of 0.60. The company’s 50-day moving average price is $42.57 and its two-hundred day moving average price is $42.97. The stock has a market capitalization of $159.47 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 0.99 and a beta of 0.98. Comcast Co. has a one year low of $36.38 and a one year high of $47.46.

Comcast (NASDAQ:CMCSA) last announced its earnings results on Thursday, January 25th. The cable giant reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.04. The firm had revenue of $31.25 billion for the quarter, compared to analyst estimates of $30.41 billion. Comcast had a net margin of 12.66% and a return on equity of 19.75%. On average, equities analysts forecast that Comcast Co. will post 4.23 EPS for the current fiscal year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 3rd will be paid a $0.31 dividend. This is an increase from Comcast’s previous quarterly dividend of $0.29. The ex-dividend date is Tuesday, April 2nd. This represents a $1.24 annualized dividend and a yield of 3.09%. Comcast’s dividend payout ratio is presently 33.33%.

Comcast Company 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.