Capital World Investors decreased its position in CBS Corporation (NYSE:CBS) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,340,780 shares of the media conglomerate’s stock after selling 201,539 shares during the quarter. Capital World Investors owned 7.55% of CBS Corporation worth $1,935,135,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Glenview Capital Management LLC boosted its position in shares of CBS Corporation by 6.7% during the first quarter. Glenview Capital Management LLC now owns 5,471,963 shares of the media conglomerate’s stock worth $379,535,000 after buying an additional 343,424 shares during the period. Alliancebernstein L.P. grew its holdings in shares of CBS Corporation by 7.1% during the first quarter. Alliancebernstein L.P. now owns 5,393,198 shares of the media conglomerate’s stock worth $374,072,000 after buying an additional 358,785 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of CBS Corporation by 3.1% during the first quarter. Geode Capital Management LLC now owns 3,680,166 shares of the media conglomerate’s stock worth $254,889,000 after buying an additional 109,782 shares in the last quarter. FMR LLC grew its holdings in shares of CBS Corporation by 21.2% during the first quarter. FMR LLC now owns 3,530,274 shares of the media conglomerate’s stock worth $244,860,000 after buying an additional 618,593 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of CBS Corporation by 15.6% during the first quarter. Victory Capital Management Inc. now owns 2,365,683 shares of the media conglomerate’s stock worth $164,084,000 after buying an additional 318,747 shares in the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CBS Corporation (NYSE CBS) traded up 0.52% during midday trading on Monday, hitting $58.30. 1,166,015 shares of the stock were exchanged. The firm has a market capitalization of $23.42 billion, a price-to-earnings ratio of 148.35 and a beta of 1.69. The stock’s 50-day moving average price is $63.34 and its 200-day moving average price is $64.46. CBS Corporation has a 1-year low of $54.11 and a 1-year high of $70.10.

CBS Corporation (NYSE:CBS) last issued its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.07. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.09 billion. CBS Corporation had a return on equity of 49.51% and a net margin of 1.27%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, analysts forecast that CBS Corporation will post $4.46 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, September 7th. CBS Corporation’s dividend payout ratio (DPR) is currently 211.76%.

CBS has been the subject of a number of recent research reports. ValuEngine downgraded CBS Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of CBS Corporation in a report on Wednesday, June 28th. BidaskClub upgraded shares of CBS Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Loop Capital reissued a “buy” rating and issued a $78.00 price objective on shares of CBS Corporation in a research report on Sunday, August 20th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $71.00 price objective on shares of CBS Corporation in a research report on Wednesday, June 14th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $74.98.

In other CBS Corporation news, CEO Leslie Moonves sold 200,000 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the sale, the chief executive officer now directly owns 1,232,652 shares of the company’s stock, valued at $78,630,871.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gil D. Schwartz sold 5,270 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $64.08, for a total transaction of $337,701.60. Following the sale, the executive vice president now directly owns 60,322 shares in the company, valued at $3,865,433.76. The disclosure for this sale can be found here. In the last three months, insiders sold 581,005 shares of company stock valued at $36,219,197. 2.03% of the stock is currently owned by insiders.

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CBS Corporation Profile

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

Institutional Ownership by Quarter for CBS Corporation (NYSE:CBS)

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