Handelsbanken Fonder AB cut its stake in shares of CBS Corporation (NYSE:CBS) by 31.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184,000 shares of the media conglomerate’s stock after selling 86,000 shares during the period. Handelsbanken Fonder AB’s holdings in CBS Corporation were worth $11,706,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Clark Estates Inc. NY purchased a new position in CBS Corporation during the third quarter valued at $2,956,000. Klingenstein Fields & Co. LLC purchased a new position in CBS Corporation during the second quarter valued at $284,000. Todd Asset Management LLC increased its position in CBS Corporation by 22.0% in the second quarter. Todd Asset Management LLC now owns 796,447 shares of the media conglomerate’s stock valued at $43,359,000 after buying an additional 143,608 shares during the last quarter. Great West Life Assurance Co. Can increased its position in CBS Corporation by 11.9% in the third quarter. Great West Life Assurance Co. Can now owns 388,525 shares of the media conglomerate’s stock valued at $21,231,000 after buying an additional 41,421 shares during the last quarter. Finally, Swarthmore Group Inc. increased its position in CBS Corporation by 15.5% in the third quarter. Swarthmore Group Inc. now owns 396,000 shares of the media conglomerate’s stock valued at $21,677,000 after buying an additional 53,100 shares during the last quarter. 78.75% of the stock is owned by hedge funds and other institutional investors.
Shares of CBS Corporation (NYSE:CBS) traded up 0.03% during trading on Friday, hitting $64.40. The stock had a trading volume of 3,838,124 shares. CBS Corporation has a one year low of $43.54 and a one year high of $66.88. The stock has a market cap of $27.67 billion, a price-to-earnings ratio of 18.08 and a beta of 1.66. The stock’s 50-day moving average price is $63.91 and its 200 day moving average price is $57.75.
The company also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, March 8th. CBS Corporation’s dividend payout ratio (DPR) is 20.17%.
Several equities analysts have weighed in on the company. Wunderlich assumed coverage on CBS Corporation in a research report on Friday, October 21st. They set a “buy” rating and a $72.00 price target for the company. Wedbush reissued an “outperform” rating and set a $77.00 price target on shares of CBS Corporation in a research report on Monday, February 6th. Brean Capital reissued a “buy” rating and set a $75.00 price target on shares of CBS Corporation in a research report on Friday, January 6th. J P Morgan Chase & Co reissued a “buy” rating and set a $69.00 price target on shares of CBS Corporation in a research report on Friday, November 4th. Finally, Pacific Crest reissued a “hold” rating on shares of CBS Corporation in a research report on Friday, November 4th. Six research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $67.47.
CBS Corporation Company Profile
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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