Allspring Global Investments Holdings LLC Cuts Stake in Comcast Corporation $CMCSA

Allspring Global Investments Holdings LLC cut its stake in Comcast Corporation (NASDAQ:CMCSA) by 4.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 634,047 shares of the cable giant’s stock after selling 27,388 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Comcast were worth $19,617,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital A Wealth Management LLC lifted its position in shares of Comcast by 173.7% in the second quarter. Capital A Wealth Management LLC now owns 687 shares of the cable giant’s stock valued at $25,000 after acquiring an additional 436 shares in the last quarter. Cranbrook Wealth Management LLC raised its stake in Comcast by 86.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 757 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 350 shares during the last quarter. Global Trust Asset Management LLC lifted its holdings in Comcast by 906.8% in the 2nd quarter. Global Trust Asset Management LLC now owns 745 shares of the cable giant’s stock valued at $27,000 after purchasing an additional 671 shares in the last quarter. Avalon Trust Co boosted its stake in Comcast by 433.3% during the 2nd quarter. Avalon Trust Co now owns 768 shares of the cable giant’s stock worth $27,000 after purchasing an additional 624 shares during the last quarter. Finally, Ransom Advisory Ltd purchased a new stake in shares of Comcast during the first quarter worth $29,000. 84.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMCSA has been the subject of a number of recent research reports. TD Cowen decreased their price target on shares of Comcast from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $30.00 price objective (down previously from $39.00) on shares of Comcast in a report on Friday, October 31st. Sanford C. Bernstein decreased their target price on shares of Comcast from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Friday, October 31st. Oppenheimer set a $38.00 price target on Comcast in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Comcast in a report on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.92.

Comcast Stock Down 1.2%

Shares of NASDAQ:CMCSA opened at $29.54 on Monday. The company has a market capitalization of $107.64 billion, a price-to-earnings ratio of 4.92, a PEG ratio of 2.07 and a beta of 0.81. Comcast Corporation has a 12-month low of $25.75 and a 12-month high of $38.40. The business has a 50-day moving average price of $28.04 and a 200 day moving average price of $31.24. 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 (NASDAQ:CMCSA) last announced its earnings results on Monday, March 13th. The cable giant reported $0.77 earnings per share for the quarter. Comcast had a net margin of 18.33% and a return on equity of 18.06%. The company had revenue of $30.34 billion during the quarter. Sell-side analysts expect that Comcast Corporation will post 4.33 EPS for the current year.

Comcast Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.5%. The ex-dividend date is Wednesday, January 14th. Comcast’s dividend payout ratio (DPR) is 21.96%.

Comcast 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.