Huber Capital Management LLC increased its holdings in ViacomCBS Inc. (NASDAQ:VIAC) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,000 shares of the company’s stock after purchasing an additional 9,100 shares during the period. Huber Capital Management LLC’s holdings in ViacomCBS were worth $3,164,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in VIAC. Intellectus Partners LLC purchased a new position in ViacomCBS during the second quarter worth $227,000. Algert Global LLC purchased a new stake in shares of ViacomCBS during the second quarter valued at $736,000. Virginia Retirement Systems ET AL raised its holdings in shares of ViacomCBS by 10.8% in the second quarter. Virginia Retirement Systems ET AL now owns 536,200 shares of the company’s stock valued at $24,236,000 after acquiring an additional 52,400 shares in the last quarter. Toroso Investments LLC bought a new stake in shares of ViacomCBS in the second quarter valued at about $216,000. Finally, APG Asset Management N.V. raised its holdings in ViacomCBS by 3.8% in the second quarter. APG Asset Management N.V. now owns 1,407,384 shares of the company’s stock worth $53,642,000 after purchasing an additional 51,800 shares in the last quarter. Institutional investors own 66.59% of the company’s stock.
A number of research analysts have recently issued reports on VIAC shares. Bank of America reiterated a “buy” rating and set a $53.00 target price on shares of ViacomCBS in a research report on Thursday, July 8th. Wells Fargo & Company upgraded ViacomCBS from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $45.00 to $50.00 in a report on Wednesday, August 18th. Finally, Deutsche Bank Aktiengesellschaft upgraded ViacomCBS from a “sell” rating to a “hold” rating and raised their target price for the company from $32.00 to $45.00 in a report on Friday, August 6th. They noted that the move was a valuation call. Three investment 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $49.96.
ViacomCBS (NASDAQ:VIAC) last released its quarterly earnings results on Thursday, August 5th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $6.56 billion for the quarter, compared to analyst estimates of $6.41 billion. ViacomCBS had a return on equity of 15.64% and a net margin of 12.51%. Analysts predict that ViacomCBS Inc. will post 3.94 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 3rd. Shareholders 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 yield of 2.42%. The ex-dividend date is Tuesday, December 14th. ViacomCBS’s dividend payout ratio (DPR) is 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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