DSC Advisors L.P. lowered its position in shares of CBS Co. (NYSE:CBS) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,000 shares of the media conglomerate’s stock after selling 17,500 shares during the quarter. CBS makes up approximately 2.9% of DSC Advisors L.P.’s holdings, making the stock its 13th biggest holding. DSC Advisors L.P.’s holdings in CBS were worth $5,015,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Avestar Capital LLC bought a new stake in CBS during the 4th quarter worth about $119,000. Financial Gravity Companies Inc. bought a new stake in CBS during the 4th quarter worth about $143,000. Advisors Preferred LLC bought a new stake in CBS during the 4th quarter worth about $213,000. Lombard Odier Asset Management Europe Ltd bought a new stake in CBS during the 4th quarter worth about $227,000. Finally, Scotia Capital Inc. bought a new stake in CBS during the 4th quarter worth about $235,000. Institutional investors and hedge funds own 77.98% of the company’s stock.
CBS Co. (NYSE:CBS) opened at $51.90 on Wednesday. CBS Co. has a one year low of $50.54 and a one year high of $70.10. The firm has a market cap of $20,012.38, a P/E ratio of 58.32, a P/E/G ratio of 0.76 and a beta of 1.51. The company has a debt-to-equity ratio of 4.78, a quick ratio of 1.12 and a current ratio of 1.58.
The business also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Friday, March 9th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.72 annualized dividend and a yield of 1.39%. CBS’s dividend payout ratio (DPR) is currently 80.90%.
CBS has been the topic of a number of research analyst reports. ValuEngine lowered shares of CBS from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Benchmark reaffirmed a “buy” rating and issued a $78.00 target price on shares of CBS in a research note on Tuesday, January 16th. Morgan Stanley initiated coverage on shares of CBS in a research note on Wednesday, December 6th. They issued an “overweight” rating and a $68.00 target price on the stock. B. Riley reduced their target price on shares of CBS from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Finally, Pivotal Research reaffirmed a “hold” rating and issued a $64.00 target price (up previously from $62.00) on shares of CBS in a research note on Tuesday, January 9th. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $70.83.
In other CBS news, CEO Leslie Moonves sold 85,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $55.08, for a total transaction of $4,681,800.00. Following the sale, the chief executive officer now directly owns 993,159 shares in the company, valued at approximately $54,703,197.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph R. Ianniello sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $60.13, for a total transaction of $144,312.00. Following the sale, the chief operating officer now owns 320,723 shares in the company, valued at $19,285,073.99. The disclosure for this sale can be found here. Insiders have sold a total of 221,284 shares of company stock worth $12,780,568 over the last 90 days. Corporate insiders own 2.03% of the company’s stock.
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CBS Company 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.
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