Arkadios Wealth Advisors decreased its position in shares of ViacomCBS Inc. (NASDAQ:VIAC) by 32.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,075 shares of the company’s stock after selling 989 shares during the quarter. Arkadios Wealth Advisors’ holdings in ViacomCBS were worth $58,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. bought a new stake in ViacomCBS during the second quarter valued at about $1,432,855,000. State Street Corp grew its position in shares of ViacomCBS by 2.8% during the third quarter. State Street Corp now owns 33,209,586 shares of the company’s stock worth $938,097,000 after purchasing an additional 901,304 shares in the last quarter. FMR LLC bought a new stake in ViacomCBS during the 2nd quarter valued at approximately $259,580,000. Charles Schwab Investment Management Inc. bought a new stake in ViacomCBS during the 2nd quarter valued at approximately $169,437,000. Finally, LSV Asset Management lifted its holdings in ViacomCBS by 4.8% in the 3rd quarter. LSV Asset Management now owns 5,628,559 shares of the company’s stock worth $157,655,000 after purchasing an additional 257,662 shares in the last quarter. 73.06% of the stock is owned by institutional investors.
VIAC opened at $33.99 on Friday. The business has a fifty day moving average of $29.10 and a 200 day moving average of $25.71. The stock has a market cap of $20.98 billion, a P/E ratio of 16.58, a PEG ratio of 0.68 and a beta of 1.79. The company has a quick ratio of 1.33, a current ratio of 1.56 and a debt-to-equity ratio of 1.35. ViacomCBS Inc. has a 52-week low of $10.10 and a 52-week high of $43.04.
ViacomCBS (NASDAQ:VIAC) last released its earnings results on Friday, November 6th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $6.12 billion during the quarter, compared to the consensus estimate of $5.96 billion. ViacomCBS had a return on equity of 20.89% and a net margin of 4.58%. The business’s revenue for the quarter was up 85.6% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. Equities analysts anticipate that ViacomCBS Inc. will post 4.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 15th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, December 14th. This represents a $0.96 dividend on an annualized basis and a yield of 2.82%. ViacomCBS’s payout ratio is 19.16%.
Several equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of ViacomCBS from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $19.00 to $30.00 in a report on Thursday, August 27th. Needham & Company LLC lifted their price objective on ViacomCBS from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, October 9th. BidaskClub upgraded shares of ViacomCBS from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 3rd. Royal Bank of Canada lifted their price objective on shares of ViacomCBS from $17.00 to $26.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Finally, Benchmark upped their target price on shares of ViacomCBS from $24.00 to $35.00 in a research report on Friday, August 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $33.04.
In other ViacomCBS news, EVP Dede Lea sold 10,459 shares of the business’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $29.91, for a total value of $312,828.69. Following the completion of the sale, the executive vice president now directly owns 28,542 shares of the company’s stock, valued at approximately $853,691.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.31% of the company’s stock.
ViacomCBS Inc operates as a media and entertainment company worldwide. The company operates in four segments: TV Entertainment, Cable Networks, Filmed Entertainment, and Publishing. The TV 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; and streaming subscription services.
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