FTB Advisors Inc. Has $411,000 Stake in CBS Corp. (CBS)
FTB Advisors Inc. cut its stake in CBS Corp. (NYSE:CBS) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,580 shares of the media conglomerate’s stock after selling 306 shares during the period. FTB Advisors Inc.’s holdings in CBS Corp. were worth $411,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Virginia Retirement System purchased a new stake in CBS Corp. during the first quarter valued at $387,000. NN Investment Partners Holdings N.V. purchased a new stake in CBS Corp. during the first quarter valued at $141,000. M&T Bank Corp raised its stake in CBS Corp. by 3.2% in the first quarter. M&T Bank Corp now owns 77,649 shares of the media conglomerate’s stock valued at $4,278,000 after buying an additional 2,404 shares during the period. Investec Asset Management North America Inc. raised its stake in CBS Corp. by 40.1% in the first quarter. Investec Asset Management North America Inc. now owns 23,118 shares of the media conglomerate’s stock valued at $1,274,000 after buying an additional 6,620 shares during the period. Finally, Aviva PLC raised its stake in CBS Corp. by 0.7% in the first quarter. Aviva PLC now owns 260,034 shares of the media conglomerate’s stock valued at $14,325,000 after buying an additional 1,839 shares during the period. Institutional investors own 76.79% of the company’s stock.
Shares of CBS Corp. (NYSE:CBS) traded up 0.13% during midday trading on Friday, hitting $55.31. 2,014,636 shares of the company traded hands. The stock has a 50 day moving average of $52.86 and a 200-day moving average of $53.84. CBS Corp. has a 52 week low of $41.36 and a 52 week high of $58.22. The stock has a market capitalization of $24.59 billion, a PE ratio of 16.36 and a beta of 1.81.
CBS Corp. (NYSE:CBS) last posted its quarterly earnings results on Thursday, July 28th. The media conglomerate reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The company earned $3.29 billion during the quarter, compared to analyst estimates of $3.21 billion. CBS Corp. had a net margin of 11.07% and a return on equity of 31.53%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. Equities analysts forecast that CBS Corp. will post $3.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date was Wednesday, September 7th. This is a positive change from CBS Corp.’s previous quarterly dividend of $0.15. CBS Corp.’s dividend payout ratio (DPR) is currently 21.30%.
CBS has been the topic of several analyst reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of CBS Corp. in a report on Friday, June 17th. Wells Fargo & Co. restated an “outperform” rating on shares of CBS Corp. in a report on Saturday, June 25th. Morgan Stanley restated an “overweight” rating on shares of CBS Corp. in a report on Wednesday, June 29th. JPMorgan Chase & Co. restated a “buy” rating on shares of CBS Corp. in a report on Thursday, June 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 price objective on shares of CBS Corp. in a report on Saturday, July 2nd. Five equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $62.64.
About CBS Corp.
CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films.
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