Marco Investment Management LLC acquired a new stake in shares of ViacomCBS Inc. (NASDAQ:VIAC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 32,000 shares of the company’s stock, valued at approximately $1,446,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Asset Management One Co. Ltd. grew its position in shares of ViacomCBS by 8.5% in the 2nd quarter. Asset Management One Co. Ltd. now owns 292,072 shares of the company’s stock worth $13,201,000 after acquiring an additional 22,920 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of ViacomCBS in the 1st quarter worth approximately $19,197,000. Wealth Enhancement Advisory Services LLC boosted its position in ViacomCBS by 28.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 30,893 shares of the company’s stock valued at $1,276,000 after purchasing an additional 6,836 shares during the period. Cascade Investment Advisors Inc. boosted its position in ViacomCBS by 92.7% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 35,435 shares of the company’s stock valued at $1,602,000 after purchasing an additional 17,045 shares during the period. Finally, Avestar Capital LLC acquired a new position in ViacomCBS during the 2nd quarter valued at approximately $1,093,000. Hedge funds and other institutional investors own 66.59% of the company’s stock.
A number of research firms recently issued reports on VIAC. Wells Fargo & Company upgraded 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 research report on Wednesday, August 18th. Bank of America reaffirmed a “buy” rating and set a $53.00 target price on shares of ViacomCBS in a research note on Thursday, July 8th. Finally, Deutsche Bank Aktiengesellschaft raised ViacomCBS from a “sell” rating to a “hold” rating and lifted their target price for the company from $32.00 to $45.00 in a research note on Friday, August 6th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $49.96.
ViacomCBS (NASDAQ:VIAC) last issued its quarterly earnings data on Thursday, August 5th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.41 billion. ViacomCBS had a net margin of 12.51% and a return on equity of 15.64%. On average, analysts predict that ViacomCBS Inc. will post 3.94 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, September 14th. ViacomCBS’s payout ratio is presently 22.86%.
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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