Kistler Tiffany Companies LLC increased its holdings in shares of CBS Co. (NYSE:CBS) by 29.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,363 shares of the media conglomerate’s stock after purchasing an additional 1,000 shares during the period. Kistler Tiffany Companies LLC’s holdings in CBS were worth $251,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Private Capital Group LLC lifted its holdings in shares of CBS by 430.9% during the 1st quarter. Private Capital Group LLC now owns 2,076 shares of the media conglomerate’s stock valued at $107,000 after purchasing an additional 1,685 shares in the last quarter. Squar Milner Financial Services LLC bought a new position in shares of CBS during the 2nd quarter valued at about $122,000. Atria Investments LLC bought a new position in shares of CBS during the 3rd quarter valued at about $202,000. Greenleaf Trust bought a new position in shares of CBS during the 2nd quarter valued at about $240,000. Finally, Lourd Capital LLC bought a new position in shares of CBS during the 3rd quarter valued at about $245,000. Institutional investors and hedge funds own 74.88% of the company’s stock.
NYSE:CBS opened at $56.17 on Friday. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 0.70 and a beta of 1.36. CBS Co. has a twelve month low of $47.54 and a twelve month high of $61.59. The company has a current ratio of 1.60, a quick ratio of 1.10 and a debt-to-equity ratio of 4.37.
CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.46 billion. CBS had a return on equity of 81.10% and a net margin of 10.21%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. Research analysts forecast that CBS Co. will post 5.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, September 7th. CBS’s dividend payout ratio (DPR) is 17.18%.
Several research firms have recently weighed in on CBS. Argus cut CBS from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Barrington Research reiterated a “buy” rating and set a $71.00 price objective on shares of CBS in a report on Monday, August 6th. Loop Capital Mk reissued a “buy” rating on shares of CBS in a research report on Friday, August 3rd. Credit Suisse Group assumed coverage on CBS in a research report on Tuesday, July 10th. They issued an “overweight” rating and a $66.00 target price on the stock. Finally, ValuEngine raised CBS from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. CBS currently has an average rating of “Buy” and a consensus price target of $66.22.
In other CBS news, EVP Anthony G. Ambrosio sold 11,697 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $57.53, for a total transaction of $672,928.41. Following the transaction, the executive vice president now owns 80,950 shares of the company’s stock, valued at approximately $4,657,053.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Anthony G. Ambrosio sold 3,449 shares of the business’s stock in a transaction that occurred on Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total value of $198,903.83. Following the transaction, the executive vice president now directly owns 72,702 shares in the company, valued at approximately $4,192,724.34. The disclosure for this sale can be found here. Insiders have sold a total of 32,925 shares of company stock worth $1,882,469 in the last ninety days. Insiders own 1.80% of the company’s stock.
CBS Company Profile
CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.
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