DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of CBS Co. (NYSE:CBS) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,675 shares of the media conglomerate’s stock after purchasing an additional 1,090 shares during the period. CBS makes up 1.5% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 25th biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in CBS were worth $5,235,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of CBS. Ellevest Inc. purchased a new position in CBS in the second quarter valued at $25,000. Carroll Financial Associates Inc. increased its holdings in CBS by 96.5% in the second quarter. Carroll Financial Associates Inc. now owns 560 shares of the media conglomerate’s stock valued at $27,000 after buying an additional 275 shares in the last quarter. Whitener Capital Management Inc. increased its holdings in CBS by 57.1% in the second quarter. Whitener Capital Management Inc. now owns 550 shares of the media conglomerate’s stock valued at $27,000 after buying an additional 200 shares in the last quarter. Personal Wealth Partners purchased a new position in CBS in the second quarter valued at $29,000. Finally, Weaver Consulting Group purchased a new position in CBS in the first quarter valued at $30,000. 74.49% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on CBS. Citigroup cut their price objective on shares of CBS from $60.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. UBS Group set a $54.00 price objective on shares of CBS and gave the company a “hold” rating in a report on Friday, August 9th. TheStreet cut shares of CBS from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Loop Capital cut their price objective on shares of CBS to $50.00 and set a “buy” rating for the company in a report on Friday. Finally, Imperial Capital cut their price objective on shares of CBS from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Friday. Three research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.21.
CBS (NYSE:CBS) last released its earnings results on Thursday, August 8th. The media conglomerate reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.71 billion. CBS had a net margin of 20.13% and a return on equity of 55.03%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.12 earnings per share. On average, analysts expect that CBS Co. will post 5.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.18 per share. The ex-dividend date was Monday, September 9th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.96%. CBS’s dividend payout ratio is currently 13.87%.
CBS Corporation operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.
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