Westpac Banking Corp increased its holdings in ViacomCBS Inc. (NASDAQ:VIAC) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,813 shares of the company’s stock after acquiring an additional 14,520 shares during the quarter. Westpac Banking Corp’s holdings in ViacomCBS were worth $5,933,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in VIAC. Evolution Wealth Advisors LLC raised its stake in shares of ViacomCBS by 138.3% in the third quarter. Evolution Wealth Advisors LLC now owns 896 shares of the company’s stock valued at $25,000 after acquiring an additional 520 shares during the last quarter. Biltmore Capital Advisors LLC bought a new position in ViacomCBS in the 3rd quarter worth $29,000. Private Capital Group LLC bought a new position in ViacomCBS in the 2nd quarter worth $25,000. Evoke Wealth LLC bought a new position in ViacomCBS in the 2nd quarter worth $27,000. Finally, Carolina Wealth Advisors LLC bought a new position in ViacomCBS in the 2nd quarter worth $27,000. Institutional investors and hedge funds own 73.06% of the company’s stock.
In related news, EVP Dede Lea sold 10,459 shares of the company’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 $853,691.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on VIAC shares. Credit Suisse Group reaffirmed a “hold” rating and issued a $28.00 target price on shares of ViacomCBS in a research report on Tuesday, October 6th. Morgan Stanley upped their target price on shares of ViacomCBS from $29.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, November 2nd. ValuEngine cut shares of ViacomCBS from a “sell” rating to a “strong sell” rating in a research note on Monday, August 3rd. Wells Fargo & Company upgraded shares of ViacomCBS from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $19.00 to $30.00 in a research note on Thursday, August 27th. Finally, BidaskClub upgraded shares of ViacomCBS from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 3rd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $33.04.
NASDAQ VIAC opened at $33.99 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.56 and a debt-to-equity ratio of 1.35. The company has a fifty day moving average of $29.10 and a two-hundred day moving average of $25.71. The firm has a market capitalization of $20.98 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 0.68 and a beta of 1.79. ViacomCBS Inc. has a 52 week low of $10.10 and a 52 week high of $43.04.
ViacomCBS (NASDAQ:VIAC) last issued its earnings results on Friday, November 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.08. The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $5.96 billion. ViacomCBS had a net margin of 4.58% and a return on equity of 20.89%. The business’s revenue was up 85.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities research analysts anticipate that ViacomCBS Inc. will post 4.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, December 14th. ViacomCBS’s dividend payout ratio is currently 19.16%.
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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