Victory Capital Management Inc. increased its position in ViacomCBS Inc. (NASDAQ:VIAC) by 4.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,595,200 shares of the company’s stock after buying an additional 178,245 shares during the quarter. Victory Capital Management Inc.’s holdings in ViacomCBS were worth $128,712,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC grew its holdings in ViacomCBS by 138.3% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 896 shares of the company’s stock valued at $25,000 after buying an additional 520 shares in the last quarter. Biltmore Capital Advisors LLC purchased a new stake in ViacomCBS during the 3rd quarter valued at approximately $29,000. Private Capital Group LLC purchased a new stake in ViacomCBS during the 2nd quarter valued at approximately $25,000. Evoke Wealth LLC purchased a new stake in ViacomCBS during the 2nd quarter valued at approximately $27,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in ViacomCBS during the 2nd quarter valued at approximately $27,000. 73.06% of the stock is owned by institutional investors.
A number of research analysts have recently commented on VIAC shares. Loop Capital started coverage on ViacomCBS in a research report on Thursday, October 1st. They set a “hold” rating and a $30.00 target price for the company. Rosenblatt Securities increased their target price on ViacomCBS from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company upgraded ViacomCBS from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $19.00 to $30.00 in a research report on Thursday, August 27th. Barclays upgraded ViacomCBS from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $22.00 to $36.00 in a research report on Thursday, October 15th. Finally, ValuEngine downgraded ViacomCBS from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $33.04.
Shares of NASDAQ:VIAC traded up $0.03 during trading on Tuesday, reaching $31.93. 104,590 shares of the company were exchanged, compared to its average volume of 12,063,286. The business’s fifty day simple moving average is $28.82 and its 200-day simple moving average is $25.41. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.56 and a quick ratio of 1.33. ViacomCBS Inc. has a 12-month low of $10.10 and a 12-month high of $43.04. The firm has a market capitalization of $19.65 billion, a PE ratio of 15.56, a P/E/G ratio of 0.68 and a beta of 1.79.
ViacomCBS (NASDAQ:VIAC) last announced its quarterly earnings data on Friday, November 6th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The company had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $5.96 billion. ViacomCBS had a return on equity of 20.89% and a net margin of 4.58%. ViacomCBS’s revenue was up 85.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. On average, sell-side analysts anticipate that ViacomCBS Inc. will post 4.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 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 3.01%. The ex-dividend date is Monday, December 14th. ViacomCBS’s payout ratio is 19.16%.
In related news, EVP Dede Lea sold 10,459 shares of ViacomCBS stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $29.91, for a total value of $312,828.69. Following the completion of the sale, the executive vice president now directly owns 28,542 shares in the company, valued at $853,691.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.
ViacomCBS Company Profile
ViacomCBS Inc operates as a media and entertainment company worldwide. The company operates in four segments: TV Entertainment, Cable Networks, Filmed Entertainment, and Publishing. The TV 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; and streaming subscription services.
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