American National Registered Investment Advisor Inc. reduced its stake in shares of CBS Co. (NYSE:CBS) by 25.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,045 shares of the media conglomerate’s stock after selling 3,100 shares during the quarter. American National Registered Investment Advisor Inc.’s holdings in CBS were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CBS. Retirement Systems of Alabama grew its stake in CBS by 1.0% during the 3rd quarter. Retirement Systems of Alabama now owns 268,464 shares of the media conglomerate’s stock valued at $15,423,000 after acquiring an additional 2,712 shares in the last quarter. Klingenstein Fields & Co. LLC grew its stake in CBS by 6.1% during the 2nd quarter. Klingenstein Fields & Co. LLC now owns 445,675 shares of the media conglomerate’s stock valued at $25,056,000 after acquiring an additional 25,649 shares in the last quarter. Inverness Counsel LLC NY purchased a new position in CBS during the 2nd quarter valued at about $4,541,000. Capital Advisors Ltd. LLC grew its stake in shares of CBS by 3,620.8% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 2,679 shares of the media conglomerate’s stock valued at $154,000 after buying an additional 2,607 shares in the last quarter. Finally, Underhill Investment Management LLC bought a new stake in shares of CBS in the 3rd quarter valued at approximately $6,447,000. Institutional investors and hedge funds own 68.78% of the company’s stock.

Several brokerages recently commented on CBS. Zacks Investment Research raised CBS from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Wolfe Research began coverage on CBS in a research note on Friday. They issued a “market perform” rating for the company. B. Riley boosted their price target on CBS from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Royal Bank of Canada boosted their target price on CBS to $70.00 and gave the stock a “positive” rating in a report on Friday, November 2nd. They noted that the move was a valuation call. Finally, Benchmark restated a “buy” rating and issued a $90.00 target price on shares of CBS in a report on Friday, November 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $66.14.

In related news, EVP Anthony G. Ambrosio sold 11,697 shares of the firm’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $57.53, for a total value of $672,928.41. Following the transaction, the executive vice president now owns 80,950 shares in the company, valued at $4,657,053.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Anthony G. Ambrosio sold 3,449 shares of the firm’s stock in a transaction dated Tuesday, October 9th. The shares were sold at an average price of $57.67, for a total value of $198,903.83. Following the completion of the transaction, the executive vice president now owns 72,702 shares in the company, valued at approximately $4,192,724.34. The disclosure for this sale can be found here. Insiders have sold 17,380 shares of company stock worth $1,001,762 in the last 90 days. Company insiders own 0.51% of the company’s stock.

NYSE:CBS traded down $0.21 during trading hours on Friday, reaching $51.10. The company had a trading volume of 2,834,884 shares, compared to its average volume of 2,251,970. CBS Co. has a one year low of $47.54 and a one year high of $61.59. The stock has a market capitalization of $19.21 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 0.66 and a beta of 1.19. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.51 and a quick ratio of 1.05.

CBS (NYSE:CBS) last announced its quarterly earnings results on Thursday, November 1st. The media conglomerate reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.02. The firm had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. CBS had a return on equity of 86.51% and a net margin of 9.42%. The business’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. Research analysts expect that CBS Co. will post 5.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Tuesday, December 11th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, December 10th. CBS’s payout ratio is presently 17.18%.

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

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