Allspring Global Investments Holdings LLC Has $89.47 Million Stake in Comcast Co. (NASDAQ:CMCSA)

Allspring Global Investments Holdings LLC increased its holdings in Comcast Co. (NASDAQ:CMCSA) by 18.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,063,878 shares of the cable giant’s stock after buying an additional 322,450 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of Comcast worth $89,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new position in Comcast during the fourth quarter valued at approximately $2,542,988,000. Capital World Investors raised its position in Comcast by 17.0% during the fourth quarter. Capital World Investors now owns 107,773,317 shares of the cable giant’s stock valued at $4,725,926,000 after purchasing an additional 15,625,543 shares in the last quarter. Morningstar Investment Services LLC raised its position in Comcast by 116.8% during the fourth quarter. Morningstar Investment Services LLC now owns 5,145,838 shares of the cable giant’s stock valued at $227,034,000 after purchasing an additional 2,772,190 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Comcast by 215.7% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,622,246 shares of the cable giant’s stock valued at $158,835,000 after purchasing an additional 2,474,946 shares in the last quarter. Finally, Pathstone Holdings LLC acquired a new position in Comcast during the fourth quarter valued at approximately $108,332,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Comcast news, major shareholder Corp Comcast sold 3,176,923 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $3.19, for a total value of $10,134,384.37. Following the sale, the insider now owns 2,000,000 shares of the company’s stock, valued at approximately $6,380,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on CMCSA. Macquarie decreased their target price on shares of Comcast from $43.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. StockNews.com cut shares of Comcast from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 22nd. Scotiabank decreased their target price on shares of Comcast from $50.00 to $47.25 and set a “sector perform” rating on the stock in a research note on Friday, April 26th. Benchmark reaffirmed a “buy” rating and set a $55.00 target price on shares of Comcast in a research note on Monday, May 13th. Finally, Evercore ISI reissued an “outperform” rating and issued a $50.00 price objective on shares of Comcast in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.62.

Comcast Stock Down 0.2 %

NASDAQ:CMCSA traded down $0.07 on Tuesday, hitting $38.10. The stock had a trading volume of 1,512,065 shares, compared to its average volume of 20,507,963. The firm’s fifty day simple moving average is $38.71 and its two-hundred day simple moving average is $41.37. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $149.49 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. Comcast Co. has a 1 year low of $36.43 and a 1 year high of $47.46.

Comcast (NASDAQ:CMCSA) last posted its quarterly earnings data on Thursday, April 25th. The cable giant reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. The firm had revenue of $30.06 billion for the quarter, compared to analysts’ expectations of $29.83 billion. Comcast had a net margin of 12.64% and a return on equity of 20.10%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. Analysts predict that Comcast Co. will post 4.21 earnings per share for the current year.

Comcast Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 3rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date is Wednesday, July 3rd. Comcast’s payout ratio is presently 32.80%.

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.