Stratos Wealth Partners LTD. lifted its position in shares of ViacomCBS Inc. (NASDAQ:VIAC) by 61.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,187 shares of the company’s stock after purchasing an additional 23,242 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in ViacomCBS were worth $2,760,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in ViacomCBS by 1.1% in the 4th quarter. BlackRock Inc. now owns 46,512,963 shares of the company’s stock valued at $1,733,073,000 after buying an additional 485,605 shares during the last quarter. Morgan Stanley raised its position in ViacomCBS by 19.7% in the 4th quarter. Morgan Stanley now owns 43,222,024 shares of the company’s stock valued at $1,610,451,000 after buying an additional 7,106,259 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in ViacomCBS by 10.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,435,691 shares of the company’s stock valued at $314,314,000 after buying an additional 830,854 shares during the last quarter. Norges Bank purchased a new stake in ViacomCBS in the 4th quarter valued at $274,539,000. Finally, Victory Capital Management Inc. raised its position in ViacomCBS by 1.0% in the 4th quarter. Victory Capital Management Inc. now owns 4,642,628 shares of the company’s stock valued at $172,984,000 after buying an additional 47,428 shares during the last quarter. 80.47% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ VIAC opened at $39.66 on Tuesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.45 and a current ratio of 1.69. The business’s 50 day moving average price is $54.14 and its 200-day moving average price is $46.54. ViacomCBS Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $101.97. The company has a market cap of $24.57 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 1.06 and a beta of 1.79.
The firm also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Stockholders of record on Monday, March 15th were issued a $0.24 dividend. The ex-dividend date was Friday, March 12th. This represents a $0.96 annualized dividend and a dividend yield of 2.42%. ViacomCBS’s payout ratio is 19.16%.
A number of research firms recently commented on VIAC. Wells Fargo & Company reissued an “underweight” rating on shares of ViacomCBS in a research report on Thursday, April 1st. Macquarie raised ViacomCBS from an “underperform” rating to a “neutral” rating and decreased their target price for the company from $78.00 to $47.00 in a research report on Friday. Loop Capital raised ViacomCBS from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a research report on Monday, March 29th. Morgan Stanley decreased their target price on ViacomCBS from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, April 19th. Finally, Rosenblatt Securities raised their target price on ViacomCBS from $30.00 to $61.00 and gave the company a “neutral” rating in a research report on Thursday, March 11th. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $47.92.
In other ViacomCBS news, EVP Richard M. Jones sold 40,285 shares of the firm’s stock in a transaction on Wednesday, March 10th. The stock was sold at an average price of $80.62, for a total transaction of $3,247,776.70. Following the transaction, the executive vice president now directly owns 28,217 shares in the company, valued at approximately $2,274,854.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Linda M. Griego sold 6,000 shares of the firm’s stock in a transaction on Friday, February 26th. The stock was sold at an average price of $64.51, for a total value of $387,060.00. Following the transaction, the director now owns 39,230 shares in the company, valued at $2,530,727.30. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
ViacomCBS Company Profile
ViacomCBS, Inc operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films as well as the Company’s digital streaming services, CBS All Access and CBSN.
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