Nisa Investment Advisors LLC Sells 300 Shares of CBS Corp. (CBS)
Nisa Investment Advisors LLC cut its stake in CBS Corp. (NYSE:CBS) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 124,927 shares of the media conglomerate’s stock after selling 300 shares during the period. Nisa Investment Advisors LLC’s holdings in CBS Corp. were worth $6,838,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of CBS. Tocqueville Asset Management L.P. raised its position in shares of CBS Corp. by 0.3% in the second quarter. Tocqueville Asset Management L.P. now owns 7,918 shares of the media conglomerate’s stock valued at $431,000 after buying an additional 21 shares in the last quarter. Hollencrest Securities LLC raised its stake in CBS Corp. by 0.5% in the second quarter. Hollencrest Securities LLC now owns 7,334 shares of the media conglomerate’s stock worth $399,000 after buying an additional 34 shares during the period. Abner Herrman & Brock LLC raised its stake in CBS Corp. by 0.7% in the second quarter. Abner Herrman & Brock LLC now owns 7,572 shares of the media conglomerate’s stock worth $436,000 after buying an additional 50 shares during the period. TIAA CREF Trust Co. FSB MO raised its stake in CBS Corp. by 0.5% in the second quarter. TIAA CREF Trust Co. FSB MO now owns 10,184 shares of the media conglomerate’s stock worth $554,000 after buying an additional 54 shares during the period. Finally, SSI Investment Management Inc. raised its stake in CBS Corp. by 1.4% in the second quarter. SSI Investment Management Inc. now owns 4,003 shares of the media conglomerate’s stock worth $218,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 77.91% of the company’s stock.
Shares of CBS Corp. (NYSE:CBS) traded down 0.320% during midday trading on Wednesday, hitting $60.805. 2,731,584 shares of the stock were exchanged. The stock has a market cap of $26.13 billion, a P/E ratio of 17.075 and a beta of 1.64. CBS Corp. has a one year low of $41.36 and a one year high of $61.34. The stock’s 50-day moving average price is $57.34 and its 200 day moving average price is $54.33.
CBS Corp. (NYSE:CBS) last released its quarterly earnings results on Thursday, November 3rd. The media conglomerate reported $1.05 EPS for the quarter, topping the consensus estimate of $0.98 by $0.07. The business earned $3.40 million during the quarter, compared to analyst estimates of $3.26 million. CBS Corp. had a net margin of 11.32% and a return on equity of 33.06%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, analysts anticipate that CBS Corp. will post $4.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be given a dividend of $0.18 per share. The ex-dividend date is Wednesday, December 7th. This represents a $0.72 annualized dividend and a dividend yield of 1.18%. CBS Corp.’s dividend payout ratio is currently 20.17%.
A number of equities research analysts have issued reports on CBS shares. Drexel Hamilton started coverage on shares of CBS Corp. in a report on Tuesday, September 6th. They set a “buy” rating and a $65.00 target price on the stock. Jefferies Group reiterated a “buy” rating on shares of CBS Corp. in a report on Monday, September 12th. Argus reiterated a “buy” rating and set a $71.00 target price on shares of CBS Corp. in a report on Tuesday, October 4th. Telsey Advisory Group lowered shares of CBS Corp. from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $67.00 to $57.00 in a report on Thursday, September 22nd. Finally, Zacks Investment Research upgraded shares of CBS Corp. from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $63.90.
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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