Pictet Asset Management Ltd. Has $9.78 Million Stake in CBS Co. (CBS)

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Pictet Asset Management Ltd. trimmed its position in CBS Co. (NYSE:CBS) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 170,244 shares of the media conglomerate’s stock after selling 3,200 shares during the period. Pictet Asset Management Ltd.’s holdings in CBS were worth $9,781,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Independent Advisor Alliance raised its holdings in shares of CBS by 41.0% in the 3rd quarter. Independent Advisor Alliance now owns 6,732 shares of the media conglomerate’s stock valued at $375,000 after purchasing an additional 1,959 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of CBS by 140.2% in the 3rd quarter. D.A. Davidson & CO. now owns 22,719 shares of the media conglomerate’s stock valued at $1,305,000 after purchasing an additional 13,261 shares in the last quarter. Korea Investment CORP raised its holdings in shares of CBS by 18.2% in the 3rd quarter. Korea Investment CORP now owns 350,772 shares of the media conglomerate’s stock valued at $20,152,000 after purchasing an additional 54,030 shares in the last quarter. Menora Mivtachim Holdings LTD. acquired a new stake in shares of CBS in the 3rd quarter valued at $23,264,000. Finally, Matrix Asset Advisors Inc. NY raised its holdings in shares of CBS by 10.1% in the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 176,615 shares of the media conglomerate’s stock valued at $10,147,000 after purchasing an additional 16,231 shares in the last quarter. Institutional investors and hedge funds own 68.78% of the company’s stock.

In other CBS news, EVP Anthony G. Ambrosio sold 11,697 shares of the firm’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $57.53, for a total transaction of $672,928.41. Following the transaction, the executive vice president now directly owns 80,950 shares of the company’s stock, valued at approximately $4,657,053.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Anthony G. Ambrosio sold 3,449 shares of the firm’s stock in a transaction on Tuesday, October 9th. The stock was sold at an average price of $57.67, for a total transaction of $198,903.83. Following the transaction, the executive vice president now directly owns 72,702 shares in the company, valued at $4,192,724.34. The disclosure for this sale can be found here. Insiders have sold a total of 17,380 shares of company stock worth $1,001,762 over the last three months. 0.51% of the stock is currently owned by insiders.

Shares of CBS stock opened at $51.10 on Friday. CBS Co. has a 1 year low of $47.54 and a 1 year high of $61.59. The company has a current ratio of 1.51, a quick ratio of 1.05 and a debt-to-equity ratio of 3.76. The firm has a market cap of $19.21 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.66 and a beta of 1.19.

CBS (NYSE:CBS) last issued its quarterly earnings data on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.02. CBS had a net margin of 9.42% and a return on equity of 86.51%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period last year, the firm posted $1.11 EPS. CBS’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts forecast that CBS Co. will post 5.23 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Tuesday, December 11th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, December 10th. CBS’s payout ratio is currently 17.18%.

CBS has been the topic of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of CBS to $70.00 and gave the company a “positive” rating in a report on Friday, November 2nd. They noted that the move was a valuation call. Goldman Sachs Group assumed coverage on shares of CBS in a research report on Thursday, November 29th. They issued a “neutral” rating and a $59.00 target price on the stock. Zacks Investment Research raised shares of CBS from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. ValuEngine raised shares of CBS from a “strong sell” rating to a “sell” rating in a research report on Friday, September 7th. Finally, Imperial Capital increased their target price on shares of CBS from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Friday, November 2nd. Thirteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $66.14.

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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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Want to see what other hedge funds are holding CBS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CBS Co. (NYSE:CBS).

Institutional Ownership by Quarter for CBS (NYSE:CBS)

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