Elo Mutual Pension Insurance Co increased its position in ViacomCBS Inc. (NASDAQ:VIAC) by 1.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,760 shares of the company’s stock after acquiring an additional 677 shares during the period. Elo Mutual Pension Insurance Co’s holdings in ViacomCBS were worth $1,838,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Michigan Retirement System grew its holdings in shares of ViacomCBS by 3.2% in the first quarter. State of Michigan Retirement System now owns 171,787 shares of the company’s stock worth $7,748,000 after acquiring an additional 5,400 shares during the period. Villere ST Denis J & Co. LLC purchased a new position in ViacomCBS during the first quarter valued at $64,666,000. Financial Counselors Inc. lifted its position in shares of ViacomCBS by 0.5% in the fourth quarter. Financial Counselors Inc. now owns 376,191 shares of the company’s stock valued at $14,017,000 after acquiring an additional 1,797 shares in the last quarter. Skylands Capital LLC purchased a new position in shares of ViacomCBS in the first quarter valued at about $1,353,000. Finally, Teacher Retirement System of Texas lifted its position in shares of ViacomCBS by 47.8% in the fourth quarter. Teacher Retirement System of Texas now owns 55,360 shares of the company’s stock valued at $2,063,000 after acquiring an additional 17,911 shares in the last quarter. 77.24% of the stock is owned by institutional investors.
Several brokerages have recently commented on VIAC. Wolfe Research upgraded ViacomCBS from a “peer perform” rating to an “outperform” rating and lowered their price objective for the company from $80.00 to $70.00 in a research report on Wednesday, April 7th. Rosenblatt Securities lowered their price objective on ViacomCBS from $61.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 12th. Macquarie upgraded ViacomCBS from an “underperform” rating to a “neutral” rating in a research report on Thursday, May 6th. Cowen boosted their target price on ViacomCBS from $39.00 to $46.00 and gave the stock a “market perform” rating in a research report on Monday, March 1st. Finally, Gabelli upgraded ViacomCBS from a “hold” rating to a “buy” rating in a research report on Tuesday, March 30th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. ViacomCBS has a consensus rating of “Hold” and a consensus target price of $48.58.
ViacomCBS (NASDAQ:VIAC) last released its earnings results on Thursday, May 6th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.30. ViacomCBS had a return on equity of 17.88% and a net margin of 10.56%. The firm had revenue of $7.41 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the firm earned $1.12 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, sell-side analysts predict that ViacomCBS Inc. will post 3.9 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Tuesday, June 15th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.31%. The ex-dividend date is Monday, June 14th. ViacomCBS’s dividend payout ratio is currently 22.86%.
ViacomCBS Inc operates as a media and entertainment company worldwide. The company operates through TV Entertainment, Cable Networks, and Filmed Entertainment segments. The TV Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; acquires or develops, and schedules programming on the CBS Television Network that includes primetime comedies and dramas, reality, specials, kids' programs, daytime dramas, game shows, and late night programs; produces or distributes talk shows, court shows, game shows, and newsmagazines; owns and operates 29 broadcast television stations; and operates CBS Sports Network, a 24/7 cable program service that provides college sports and related content, as well as streaming and cable subscription services.
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