Sumitomo Mitsui Trust Holdings Inc. bought a new position in ViacomCBS Inc. (NASDAQ:VIAC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,362,455 shares of the company’s stock, valued at approximately $55,092,000. Sumitomo Mitsui Trust Holdings Inc. owned about 0.38% of ViacomCBS at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of VIAC. Ellevest Inc. bought a new position in shares of ViacomCBS in the second quarter valued at approximately $38,000. State of Alaska Department of Revenue acquired a new stake in ViacomCBS during the second quarter valued at approximately $2,242,000. Corrado Advisors LLC purchased a new stake in shares of ViacomCBS in the 2nd quarter valued at approximately $1,476,000. Everence Capital Management Inc. purchased a new stake in shares of ViacomCBS in the 2nd quarter valued at approximately $621,000. Finally, Legacy Capital Partners Inc. purchased a new stake in shares of ViacomCBS in the 2nd quarter valued at approximately $274,000. Hedge funds and other institutional investors own 69.10% of the company’s stock.
In other ViacomCBS news, Director Linda M. Griego sold 18,075 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $28.49, for a total value of $514,956.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.31% of the company’s stock.
NASDAQ:VIAC opened at $26.07 on Friday. The company has a 50-day moving average of $23.83 and a 200-day moving average of $23.43. The company has a market capitalization of $16.04 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.68 and a beta of 1.87. ViacomCBS Inc. has a 52 week low of $10.10 and a 52 week high of $52.62. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.05 and a current ratio of 1.22.
ViacomCBS (NASDAQ:VIAC) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.18. ViacomCBS had a net margin of 4.93% and a return on equity of 22.83%. The firm had revenue of $6.67 billion during the quarter, compared to the consensus estimate of $6.57 billion. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. Sell-side analysts forecast that ViacomCBS Inc. will post 3.8 EPS for the current year.
Several equities research analysts recently commented on VIAC shares. Rosenblatt Securities restated a “hold” rating and issued a $19.00 price target on shares of ViacomCBS in a research report on Thursday, May 7th. Macquarie upped their price target on shares of ViacomCBS from $18.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, June 19th. Bank of America downgraded shares of ViacomCBS from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a research report on Monday, July 13th. Morgan Stanley increased their target price on shares of ViacomCBS from $19.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, Citigroup increased their target price on shares of ViacomCBS from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $29.83.
ViacomCBS Inc operates as a mass media company worldwide. The company operates in four segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment distributes a schedule of news and public affairs broadcasts, and sports and entertainment programming; produces, acquires, and/or distributes programming, including series, specials, news, and public affairs; operates online content networks for information and entertainment; produces theatrical films; and digital streaming services.
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