Gilder Gagnon Howe & Co. LLC reduced its stake in CBS Corporation (NYSE:CBS) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,292 shares of the media conglomerate’s stock after selling 702 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in CBS Corporation were worth $1,741,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Israel Discount Bank of New York acquired a new position in CBS Corporation during the first quarter valued at $114,000. Ruggie Capital Group acquired a new position in CBS Corporation during the first quarter valued at $120,000. State of Alaska Department of Revenue acquired a new position in CBS Corporation during the first quarter valued at $157,000. Holderness Investments Co. acquired a new position in CBS Corporation during the first quarter valued at $203,000. Finally, Independent Portfolio Consultants Inc. increased its position in CBS Corporation by 31.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,936 shares of the media conglomerate’s stock valued at $187,000 after buying an additional 701 shares during the last quarter. Institutional investors and hedge funds own 75.42% of the company’s stock.

CBS Corporation (NYSE:CBS) opened at 66.19 on Friday. The stock has a market capitalization of $26.59 billion, a PE ratio of 168.42 and a beta of 1.71. CBS Corporation has a 52 week low of $48.88 and a 52 week high of $70.10. The firm has a 50 day moving average of $64.67 and a 200-day moving average of $64.93.

CBS Corporation (NYSE:CBS) last released its earnings results on Monday, August 7th. The media conglomerate reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts predict that CBS Corporation will post $4.46 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Thursday, September 7th. CBS Corporation’s payout ratio is 211.76%.

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Several research firms have weighed in on CBS. BMO Capital Markets reiterated a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a research report on Tuesday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $77.00 price target (up from $75.00) on shares of CBS Corporation in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target on shares of CBS Corporation in a research report on Tuesday. Argus reiterated a “buy” rating and issued a $79.00 price target (up from $71.00) on shares of CBS Corporation in a research report on Thursday. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 price target (up from $71.00) on shares of CBS Corporation in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $72.90.

In other news, EVP Gil D. Schwartz sold 5,270 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $65.40, for a total transaction of $344,658.00. Following the completion of the sale, the executive vice president now owns 60,322 shares of the company’s stock, valued at $3,945,058.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Leslie Moonves sold 200,000 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $63.79, for a total transaction of $12,758,000.00. Following the sale, the chief executive officer now directly owns 1,232,652 shares of the company’s stock, valued at approximately $78,630,871.08. The disclosure for this sale can be found here. Insiders have sold 218,707 shares of company stock valued at $13,961,251 in the last ninety days. Insiders own 1.67% of the company’s stock.

About CBS Corporation

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.

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Institutional Ownership by Quarter for CBS Corporation (NYSE:CBS)

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