Cibc World Markets Corp trimmed its stake in shares of ViacomCBS Inc. (NASDAQ:VIAC) by 78.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 392,206 shares of the company’s stock after selling 1,441,500 shares during the period. Cibc World Markets Corp owned 0.06% of ViacomCBS worth $17,728,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of VIAC. Geode Capital Management LLC lifted its stake in shares of ViacomCBS by 8.8% in the first quarter. Geode Capital Management LLC now owns 10,745,893 shares of the company’s stock worth $483,553,000 after buying an additional 866,860 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of ViacomCBS by 385.7% in the first quarter. Bank of Nova Scotia now owns 10,084,452 shares of the company’s stock worth $454,808,000 after buying an additional 8,008,319 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of ViacomCBS by 138.8% in the first quarter. Bank of New York Mellon Corp now owns 10,052,991 shares of the company’s stock worth $453,391,000 after buying an additional 5,842,622 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of ViacomCBS by 4,100.7% in the first quarter. Canada Pension Plan Investment Board now owns 6,607,599 shares of the company’s stock worth $298,002,000 after buying an additional 6,450,300 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of ViacomCBS in the first quarter worth about $254,589,000. 66.59% of the stock is currently owned by institutional investors and hedge funds.
VIAC opened at $38.92 on Wednesday. The firm has a 50 day moving average price of $40.78 and a 200 day moving average price of $47.01. The company has a market cap of $25.16 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.72 and a beta of 1.66. ViacomCBS Inc. has a 1 year low of $26.99 and a 1 year high of $101.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.61 and a current ratio of 1.78.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, September 14th. ViacomCBS’s payout ratio is currently 22.86%.
VIAC has been the topic of a number of analyst reports. reduced their target price on shares of ViacomCBS from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, May 21st. Deutsche Bank Aktiengesellschaft raised shares of ViacomCBS from a “sell” rating to a “hold” rating and lifted their target price for the stock from $32.00 to $45.00 in a research note on Friday, August 6th. They noted that the move was a valuation call. Citigroup reduced their target price on shares of ViacomCBS from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, May 21st. Bank of America reiterated a “buy” rating and set a $53.00 price target on shares of ViacomCBS in a research report on Thursday, July 8th. Finally, Wells Fargo & Company upgraded shares of ViacomCBS from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $45.00 to $50.00 in a research report on Wednesday, August 18th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.96.
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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