Virginia Retirement Systems ET AL lifted its stake in ViacomCBS Inc. (NASDAQ:VIAC) by 10.8% during the second quarter, Holdings Channel.com reports. The fund owned 536,200 shares of the company’s stock after buying an additional 52,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in ViacomCBS were worth $24,236,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of ViacomCBS by 6.3% in the second quarter. Vanguard Group Inc. now owns 64,235,732 shares of the company’s stock valued at $2,903,455,000 after acquiring an additional 3,789,299 shares during the last quarter. BlackRock Inc. grew its holdings in ViacomCBS by 7.7% during the second quarter. BlackRock Inc. now owns 44,189,709 shares of the company’s stock worth $1,997,377,000 after purchasing an additional 3,164,706 shares during the period. Geode Capital Management LLC grew its holdings in ViacomCBS by 6.0% during the second quarter. Geode Capital Management LLC now owns 11,386,862 shares of the company’s stock worth $513,490,000 after purchasing an additional 640,969 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ViacomCBS by 138.8% during 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 acquiring an additional 5,842,622 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of ViacomCBS by 4,100.7% during the first quarter. Canada Pension Plan Investment Board now owns 6,607,599 shares of the company’s stock worth $298,002,000 after acquiring an additional 6,450,300 shares during the period. 66.59% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on VIAC. Deutsche Bank Aktiengesellschaft upgraded ViacomCBS from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $32.00 to $45.00 in a report on Friday, August 6th. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating and issued a $53.00 price target on shares of ViacomCBS in a research note on Thursday, July 8th. Finally, Wells Fargo & Company upgraded ViacomCBS from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $45.00 to $50.00 in a research note on Wednesday, August 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $49.96.
ViacomCBS (NASDAQ:VIAC) last announced its quarterly earnings results on Thursday, August 5th. The company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.01. The firm had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.41 billion. ViacomCBS had a net margin of 12.51% and a return on equity of 15.64%. Equities analysts predict that ViacomCBS Inc. will post 3.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 3rd. Stockholders of record on Wednesday, December 15th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, December 14th. ViacomCBS’s dividend payout ratio (DPR) is currently 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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