Allspring Global Investments Holdings LLC Sells 1,138,225 Shares of Comcast Co. (NASDAQ:CMCSA)

Allspring Global Investments Holdings LLC reduced its stake in Comcast Co. (NASDAQ:CMCSA - Free Report) by 49.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,166,399 shares of the cable giant's stock after selling 1,138,225 shares during the period. Allspring Global Investments Holdings LLC's holdings in Comcast were worth $43,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CMCSA. AMF Tjanstepension AB boosted its position in shares of Comcast by 18.9% during the third quarter. AMF Tjanstepension AB now owns 832,594 shares of the cable giant's stock worth $34,810,000 after buying an additional 132,442 shares during the period. Wedge Capital Management L L P NC lifted its position in Comcast by 5.2% in the third quarter. Wedge Capital Management L L P NC now owns 7,873 shares of the cable giant's stock worth $329,000 after purchasing an additional 390 shares during the period. Creative Planning lifted its position in Comcast by 2.7% in the third quarter. Creative Planning now owns 959,549 shares of the cable giant's stock worth $40,080,000 after purchasing an additional 24,968 shares during the period. SeaCrest Wealth Management LLC lifted its position in Comcast by 5.1% in the third quarter. SeaCrest Wealth Management LLC now owns 16,166 shares of the cable giant's stock worth $675,000 after purchasing an additional 781 shares during the period. Finally, SPC Financial Inc. lifted its position in Comcast by 3.2% in the third quarter. SPC Financial Inc. now owns 12,634 shares of the cable giant's stock worth $528,000 after purchasing an additional 393 shares during the period. 84.32% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, President Michael J. Cavanagh sold 25,537 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $42.59, for a total transaction of $1,087,620.83. Following the completion of the sale, the president now owns 534,849 shares of the company's stock, valued at approximately $22,779,218.91. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Brian L. Roberts sold 234,464 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $42.66, for a total transaction of $10,002,234.24. Following the sale, the chief executive officer now directly owns 6,669,928 shares of the company's stock, valued at approximately $284,539,128.48. The trade was a 3.40 % decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by company insiders.

Comcast Stock Performance

CMCSA stock traded up $0.66 during mid-day trading on Tuesday, reaching $36.05. 9,107,967 shares of the stock traded hands, compared to its average volume of 26,591,652. The company has a quick ratio of 0.72, a current ratio of 0.68 and a debt-to-equity ratio of 1.09. Comcast Co. has a 52 week low of $32.50 and a 52 week high of $45.31. The business has a 50-day moving average of $36.85 and a two-hundred day moving average of $39.67. The firm has a market capitalization of $136.29 billion, a PE ratio of 8.67, a P/E/G ratio of 1.69 and a beta of 1.00.

Comcast (NASDAQ:CMCSA - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The cable giant reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.08. Comcast had a net margin of 13.09% and a return on equity of 19.98%. As a group, equities analysts predict that Comcast Co. will post 4.33 EPS for the current fiscal year.

Comcast Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.66%. This is a positive change from Comcast's previous quarterly dividend of $0.31. Comcast's dividend payout ratio is currently 29.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CMCSA shares. Macquarie cut their target price on Comcast from $42.00 to $36.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their price target on Comcast from $45.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, January 31st. BNP Paribas raised Comcast from an "underperform" rating to a "neutral" rating and set a $35.00 price target on the stock in a report on Friday, January 31st. Scotiabank cut Comcast from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $48.00 to $44.50 in a report on Monday, February 3rd. Finally, Barclays dropped their price target on Comcast from $42.00 to $37.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.13.

Comcast 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.