First Horizon Advisors Inc. grew its stake in shares of ViacomCBS Inc. (NASDAQ:VIAC) by 107.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,742 shares of the company’s stock after acquiring an additional 2,454 shares during the period. First Horizon Advisors Inc.’s holdings in ViacomCBS were worth $132,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the stock. Harbor Investment Advisory LLC raised its position in shares of ViacomCBS by 1.7% during the 3rd quarter. Harbor Investment Advisory LLC now owns 15,663 shares of the company’s stock worth $619,000 after purchasing an additional 256 shares during the last quarter. Sterneck Capital Management LLC grew its stake in ViacomCBS by 4.6% in the 3rd quarter. Sterneck Capital Management LLC now owns 5,940 shares of the company’s stock worth $235,000 after acquiring an additional 259 shares during the period. Cresset Asset Management LLC grew its stake in ViacomCBS by 3.8% in the 2nd quarter. Cresset Asset Management LLC now owns 8,852 shares of the company’s stock worth $402,000 after acquiring an additional 325 shares during the period. Berman Capital Advisors LLC grew its stake in ViacomCBS by 9.8% in the 2nd quarter. Berman Capital Advisors LLC now owns 3,727 shares of the company’s stock worth $167,000 after acquiring an additional 332 shares during the period. Finally, Greenleaf Trust grew its stake in ViacomCBS by 2.4% in the 2nd quarter. Greenleaf Trust now owns 14,472 shares of the company’s stock worth $654,000 after acquiring an additional 346 shares during the period. Hedge funds and other institutional investors own 62.42% of the company’s stock.
In other news, Director Shari Redstone bought 27,525 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was purchased at an average price of $36.30 per share, for a total transaction of $999,157.50. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert M. Bakish bought 14,000 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was purchased at an average price of $35.92 per share, with a total value of $502,880.00. The disclosure for this purchase can be found here. 0.37% of the stock is owned by corporate insiders.
ViacomCBS (NASDAQ:VIAC) last issued its quarterly earnings data on Thursday, November 4th. The company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The firm had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.57 billion. ViacomCBS had a net margin of 12.00% and a return on equity of 14.20%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. On average, sell-side analysts anticipate that ViacomCBS Inc. will post 3.62 EPS for the current year.
VIAC has been the subject of several recent analyst reports. KeyCorp lowered their target price on shares of ViacomCBS from $34.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, November 5th. Rosenblatt Securities lowered their target price on shares of ViacomCBS from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, November 10th. Royal Bank of Canada lowered their target price on shares of ViacomCBS from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, November 5th. Deutsche Bank Aktiengesellschaft raised shares of ViacomCBS from a “hold” rating to a “buy” rating and boosted their price objective for the company from $39.00 to $43.00 in a research note on Monday, January 10th. Finally, TheStreet cut shares of ViacomCBS from a “b-” rating to a “c” rating in a research note on Wednesday, December 8th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.00.
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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