Principal Financial Group Inc. trimmed its position in ViacomCBS Inc. (NASDAQ:VIAC) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 810,319 shares of the company’s stock after selling 7,201 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of ViacomCBS worth $32,016,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of ViacomCBS by 6.3% during the second quarter. Vanguard Group Inc. now owns 64,235,732 shares of the company’s stock worth $2,903,455,000 after buying an additional 3,789,299 shares during the period. BlackRock Inc. lifted its stake in shares of ViacomCBS by 7.7% during the second quarter. BlackRock Inc. now owns 44,189,709 shares of the company’s stock worth $1,997,377,000 after buying an additional 3,164,706 shares during the period. State Street Corp lifted its stake in shares of ViacomCBS by 4.6% during the second quarter. State Street Corp now owns 32,026,213 shares of the company’s stock worth $1,454,977,000 after buying an additional 1,406,775 shares during the period. Geode Capital Management LLC raised its holdings in shares of ViacomCBS by 6.0% during the second quarter. Geode Capital Management LLC now owns 11,386,862 shares of the company’s stock worth $513,490,000 after purchasing an additional 640,969 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of ViacomCBS by 73.6% during the second quarter. Morgan Stanley now owns 10,476,676 shares of the company’s stock worth $473,546,000 after purchasing an additional 4,440,190 shares during the last quarter. Institutional investors own 62.42% of the company’s stock.
VIAC has been the subject of several recent research reports. TheStreet cut shares of ViacomCBS from a “b-” rating to a “c” rating in a report on Wednesday, December 8th. Deutsche Bank Aktiengesellschaft raised shares of ViacomCBS from a “hold” rating to a “buy” rating and lifted their price objective for the company from $39.00 to $43.00 in a report on Monday, January 10th. Royal Bank of Canada cut their price objective on shares of ViacomCBS from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, November 5th. KeyCorp cut their price objective on shares of ViacomCBS from $34.00 to $32.00 and set an “underweight” rating for the company in a report on Friday, November 5th. Finally, Macquarie cut their price objective on shares of ViacomCBS from $40.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, December 14th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.00.
ViacomCBS (NASDAQ:VIAC) last issued its earnings results on Thursday, November 4th. The company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $6.61 billion during the quarter, compared to analysts’ expectations of $6.57 billion. ViacomCBS had a net margin of 12.00% and a return on equity of 14.20%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.91 EPS. On average, analysts forecast that ViacomCBS Inc. will post 3.62 earnings per share for the current fiscal year.
In related news, CEO Robert M. Bakish bought 14,000 shares of the firm’s stock in a transaction that occurred on Monday, November 8th. The shares were acquired at an average cost of $35.92 per share, with a total value of $502,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shari Redstone bought 27,525 shares of the firm’s stock in a transaction that occurred on Friday, November 5th. The stock was bought at an average cost of $36.30 per share, for a total transaction of $999,157.50. The disclosure for this purchase can be found here. 0.37% of the stock is currently owned by company insiders.
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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