United Services Automobile Association Has $995,000 Position in CBS Co. Common Stock (CBS)
United Services Automobile Association lowered its stake in shares of CBS Co. Common Stock (NYSE:CBS) by 90.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,074 shares of the media conglomerate’s stock after selling 314,074 shares during the period. United Services Automobile Association’s holdings in CBS Co. Common Stock were worth $995,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Private Capital Group LLC lifted its position in CBS Co. Common Stock by 430.9% during the first quarter. Private Capital Group LLC now owns 2,076 shares of the media conglomerate’s stock worth $107,000 after buying an additional 1,685 shares during the period. Squar Milner Financial Services LLC purchased a new position in CBS Co. Common Stock during the second quarter worth about $122,000. Greenleaf Trust purchased a new position in CBS Co. Common Stock during the second quarter worth about $240,000. Westbourne Investment Advisors Inc. purchased a new position in CBS Co. Common Stock during the first quarter worth about $250,000. Finally, Mathes Company Inc. purchased a new position in CBS Co. Common Stock during the second quarter worth about $250,000. 74.93% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on the company. Credit Suisse Group assumed coverage on CBS Co. Common Stock in a research report on Tuesday, July 10th. They set an “overweight” rating and a $66.00 target price on the stock. TheStreet upgraded CBS Co. Common Stock from a “c+” rating to a “b-” rating in a research report on Wednesday, June 27th. ValuEngine upgraded CBS Co. Common Stock from a “strong sell” rating to a “sell” rating in a research report on Friday. Imperial Capital assumed coverage on CBS Co. Common Stock in a research report on Thursday, June 28th. They set an “outperform” rating and a $71.00 target price on the stock. Finally, Bank of America downgraded CBS Co. Common Stock from a “buy” rating to a “neutral” rating and set a $58.00 target price on the stock. in a research report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have issued a buy rating to the company. CBS Co. Common Stock has a consensus rating of “Buy” and an average target price of $67.53.
CBS Co. Common Stock (NYSE:CBS) last released its quarterly earnings data on Thursday, August 2nd. The media conglomerate reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.46 billion. CBS Co. Common Stock had a return on equity of 81.10% and a net margin of 10.21%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.04 EPS. equities analysts forecast that CBS Co. Common Stock will post 5.25 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.28%. CBS Co. Common Stock’s dividend payout ratio (DPR) is 17.18%.
In related news, EVP Anthony G. Ambrosio sold 15,679 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $57.07, for a total transaction of $894,800.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gil D. Schwartz sold 160,709 shares of the firm’s stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $55.08, for a total value of $8,851,851.72. Following the sale, the executive vice president now owns 110,252 shares in the company, valued at $6,072,680.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,067 shares of company stock worth $13,448,647. Company insiders own 1.80% of the company’s stock.
CBS Co. Common Stock Profile
CBS Corporation operates as a mass media company worldwide. The company operates through four segments: Entertainment, Cable Networks, Publishing, and Local Media. The 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; produces, acquires, and distributes theatrical motion pictures; and digital streaming services.
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