First United Bank Trust lowered its stake in CBS Co. (NYSE:CBS) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 10,440 shares of the media conglomerate’s stock after selling 75 shares during the period. First United Bank Trust’s holdings in CBS were worth $724,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CBS. Asset Management Group Inc. raised its stake in shares of CBS by 0.3% in the fourth quarter. Asset Management Group Inc. now owns 6,107 shares of the media conglomerate’s stock valued at $389,000 after buying an additional 19 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of CBS by 0.6% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 5,997 shares of the media conglomerate’s stock valued at $382,000 after buying an additional 37 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of CBS by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 23,740 shares of the media conglomerate’s stock valued at $1,300,000 after buying an additional 60 shares in the last quarter. Argent Trust Co raised its stake in shares of CBS by 1.3% in the third quarter. Argent Trust Co now owns 4,746 shares of the media conglomerate’s stock valued at $260,000 after buying an additional 63 shares in the last quarter. Finally, Enterprise Financial Services Corp raised its stake in shares of CBS by 1.1% in the third quarter. Enterprise Financial Services Corp now owns 7,118 shares of the media conglomerate’s stock valued at $390,000 after buying an additional 74 shares in the last quarter. Institutional investors and hedge funds own 78.18% of the company’s stock.

Institutional Ownership by Quarter for CBS (NYSE:CBS)

CBS Co. (NYSE:CBS) traded up 0.16% during midday trading on Tuesday, reaching $67.29. The company had a trading volume of 1,218,411 shares. The stock’s 50 day moving average price is $67.69 and its 200-day moving average price is $62.81. The firm has a market capitalization of $27.56 billion, a P/E ratio of 23.95 and a beta of 1.66. CBS Co. has a one year low of $48.88 and a one year high of $70.10.

CBS (NYSE:CBS) last posted its quarterly earnings data on Wednesday, February 15th. The media conglomerate reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.01. CBS had a net margin of 11.32% and a return on equity of 33.06%. The company earned $3.52 billion during the quarter, compared to the consensus estimate of $4.03 billion. On average, equities research analysts anticipate that CBS Co. will post $4.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Stockholders of record on Friday, March 10th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.07%. CBS’s dividend payout ratio is 20.17%.

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Several brokerages recently issued reports on CBS. Barclays PLC set a $56.00 price objective on CBS and gave the stock a “hold” rating in a report on Saturday, February 18th. Instinet increased their price objective on CBS from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Thursday, March 30th. Wells Fargo & Co reiterated an “outperform” rating and set a $77.50 price objective (up from $74.00) on shares of CBS in a report on Friday, April 7th. BMO Capital Markets reiterated an “outperform” rating and set a $70.00 price objective on shares of CBS in a report on Friday, February 3rd. Finally, Rosenblatt Securities assumed coverage on CBS in a report on Tuesday, April 4th. They set a “buy” rating and a $80.00 price objective for the company. Seven analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. CBS currently has an average rating of “Buy” and an average price target of $70.30.

In other news, COO Joseph R. Ianniello sold 68,869 shares of the stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $67.40, for a total transaction of $4,641,770.60. Following the completion of the transaction, the chief operating officer now directly owns 305,580 shares in the company, valued at approximately $20,596,092. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gil D. Schwartz sold 33,131 shares of the stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $65.23, for a total transaction of $2,161,135.13. Following the transaction, the executive vice president now owns 82,718 shares of the company’s stock, valued at $5,395,695.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 130,641 shares of company stock valued at $8,741,329. Company insiders own 1.67% of the company’s stock.

CBS Company Profile

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

5 Day Chart for NYSE:CBS

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