JustInvest LLC Sells 4,011 Shares of ViacomCBS Inc. (NASDAQ:VIAC)

JustInvest LLC trimmed its stake in ViacomCBS Inc. (NASDAQ:VIAC) by 30.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,141 shares of the company’s stock after selling 4,011 shares during the quarter. JustInvest LLC’s holdings in ViacomCBS were worth $361,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Boit C F David bought a new stake in ViacomCBS during the second quarter valued at about $32,000. Herold Advisors Inc. bought a new position in ViacomCBS in the 3rd quarter worth approximately $39,000. SOA Wealth Advisors LLC. boosted its stake in ViacomCBS by 63.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 1,029 shares of the company’s stock worth $40,000 after purchasing an additional 399 shares during the period. Tompkins Financial Corp bought a new position in ViacomCBS in the 3rd quarter worth approximately $40,000. Finally, Clearstead Advisors LLC boosted its stake in ViacomCBS by 12,900.0% in the 2nd quarter. Clearstead Advisors LLC now owns 1,040 shares of the company’s stock worth $47,000 after purchasing an additional 1,032 shares during the period. 62.42% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have weighed in on the company. Rosenblatt Securities dropped their price target on ViacomCBS from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, November 10th. KeyCorp lowered their target price on ViacomCBS from $34.00 to $32.00 and set an “underweight” rating for the company in a research report on Friday, November 5th. The Goldman Sachs Group lowered their target price on ViacomCBS from $75.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, November 5th. Zacks Investment Research downgraded ViacomCBS from a “hold” rating to a “strong sell” rating and set a $26.00 target price for the company. in a research report on Tuesday, December 14th. Finally, Credit Suisse Group lowered their target price on ViacomCBS from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, November 5th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $48.00.

VIAC stock opened at $36.82 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.66 and a debt-to-equity ratio of 0.84. The business’s fifty day simple moving average is $32.40 and its two-hundred day simple moving average is $37.47. ViacomCBS Inc. has a twelve month low of $28.29 and a twelve month high of $101.97. The firm has a market cap of $23.84 billion, a price-to-earnings ratio of 7.21, a PEG ratio of 0.68 and a beta of 1.58.

ViacomCBS (NASDAQ:VIAC) last released its earnings results on Thursday, November 4th. The company reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. ViacomCBS had a return on equity of 14.20% and a net margin of 12.00%. The business had revenue of $6.61 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the firm posted $0.91 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. Research analysts expect that ViacomCBS Inc. will post 3.62 EPS for the current year.

In other news, CEO Robert M. Bakish purchased 14,000 shares of the business’s stock in a transaction dated Monday, November 8th. The shares were purchased at an average price of $35.92 per share, for a total transaction of $502,880.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shari Redstone purchased 27,525 shares of the business’s stock in a transaction dated Friday, November 5th. The shares were purchased at an average price of $36.30 per share, for a total transaction of $999,157.50. The disclosure for this purchase can be found here. Company insiders own 0.37% of the company’s stock.

ViacomCBS Profile

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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Institutional Ownership by Quarter for ViacomCBS (NASDAQ:VIAC)

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