Virginia Retirement Systems ET AL lifted its holdings in shares of ViacomCBS Inc. (NASDAQ:VIAC) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 536,200 shares of the company’s stock after purchasing an additional 52,400 shares during the period. Virginia Retirement Systems ET AL owned about 0.08% of ViacomCBS worth $24,236,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its stake in shares of ViacomCBS by 8.7% during the 1st quarter. Quadrant Capital Group LLC now owns 3,977 shares of the company’s stock valued at $179,000 after purchasing an additional 318 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in ViacomCBS by 4.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 73,482 shares of the company’s stock valued at $3,314,000 after acquiring an additional 2,887 shares during the period. Cresset Asset Management LLC lifted its position in ViacomCBS by 30.5% during the 1st quarter. Cresset Asset Management LLC now owns 8,527 shares of the company’s stock valued at $386,000 after acquiring an additional 1,994 shares during the period. Geode Capital Management LLC lifted its position in ViacomCBS by 8.8% during the 1st quarter. Geode Capital Management LLC now owns 10,745,893 shares of the company’s stock valued at $483,553,000 after acquiring an additional 866,860 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in ViacomCBS in the first quarter worth about $82,000. 66.59% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on the stock. Bank of America reaffirmed a “buy” rating and issued a $53.00 target price on shares of ViacomCBS in a report on Thursday, July 8th. Wells Fargo & Company raised shares of ViacomCBS from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $45.00 to $50.00 in a report on Wednesday, August 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of ViacomCBS from a “sell” rating to a “hold” rating and boosted their price objective for the company from $32.00 to $45.00 in a report on Friday, August 6th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $49.96.
ViacomCBS (NASDAQ:VIAC) last released its quarterly earnings results on Thursday, August 5th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. ViacomCBS had a net margin of 12.51% and a return on equity of 15.64%. The business had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.41 billion. As a group, equities analysts expect that ViacomCBS Inc. will post 3.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 3rd. Investors of record on Wednesday, December 15th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, December 14th. ViacomCBS’s payout ratio is currently 22.86%.
ViacomCBS Company Profile
ViacomCBS, Inc operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films as well as the Company’s digital streaming services, CBS All Access and CBSN.
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