Sumitomo Mitsui Trust Holdings Inc. Invests $55.09 Million in ViacomCBS Inc. (NASDAQ:VIAC)

Share on StockTwits

Sumitomo Mitsui Trust Holdings Inc. bought a new position in ViacomCBS Inc. (NASDAQ:VIAC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,362,455 shares of the company’s stock, valued at approximately $55,092,000.

Several other hedge funds also recently bought and sold shares of VIAC. Aviance Capital Partners LLC bought a new position in ViacomCBS in the 2nd quarter valued at approximately $2,816,000. Ziegler Capital Management LLC acquired a new stake in ViacomCBS during the 2nd quarter valued at approximately $4,355,000. Dupont Capital Management Corp acquired a new stake in ViacomCBS during the 2nd quarter valued at approximately $375,000. World Asset Management Inc acquired a new stake in ViacomCBS during the 2nd quarter valued at approximately $797,000. Finally, Allworth Financial LP acquired a new stake in ViacomCBS during the 2nd quarter valued at approximately $107,000. 69.10% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Linda M. Griego sold 18,075 shares of ViacomCBS stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $28.49, for a total value of $514,956.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

A number of analysts have weighed in on VIAC shares. Macquarie increased their target price on shares of ViacomCBS from $18.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, June 19th. Wells Fargo & Co raised their price objective on shares of ViacomCBS from $13.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, July 13th. Morgan Stanley raised their price objective on shares of ViacomCBS from $19.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Imperial Capital raised their price objective on shares of ViacomCBS from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $30.00 price objective on shares of ViacomCBS in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $29.83.

NASDAQ VIAC opened at $26.07 on Friday. The stock has a market capitalization of $16.04 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 0.68 and a beta of 1.87. ViacomCBS Inc. has a one year low of $10.10 and a one year high of $52.62. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.22 and a quick ratio of 1.05. The business’s fifty day moving average is $23.83 and its 200-day moving average is $23.43.

ViacomCBS (NASDAQ:VIAC) last released its earnings results on Thursday, May 7th. The company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.18. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.57 billion. ViacomCBS had a return on equity of 22.83% and a net margin of 4.93%. The firm’s revenue was down 6.1% compared to the same quarter last year. Research analysts expect that ViacomCBS Inc. will post 3.8 EPS for the current fiscal year.

About ViacomCBS

ViacomCBS Inc operates as a mass media company worldwide. The company operates in 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 theatrical films; and digital streaming services.

Recommended Story: The Structure of a Futures Contract

Want to see what other hedge funds are holding VIAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ViacomCBS Inc. (NASDAQ:VIAC).

Institutional Ownership by Quarter for ViacomCBS (NASDAQ:VIAC)

Receive News & Ratings for ViacomCBS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ViacomCBS and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Mackay Shields LLC Grows Stock Position in First Merchants Co.
Mackay Shields LLC Grows Stock Position in First Merchants Co.
Sealed Air Corp  Stock Holdings Lifted by Signaturefd LLC
Sealed Air Corp Stock Holdings Lifted by Signaturefd LLC
Signaturefd LLC Has $33,000 Stock Position in Vistra Energy Corp
Signaturefd LLC Has $33,000 Stock Position in Vistra Energy Corp
M&T Bank Corp Sells 702 Shares of Zions Bancorporation NA
M&T Bank Corp Sells 702 Shares of Zions Bancorporation NA
UBS Group AG Has $8.35 Million Position in Zions Bancorporation NA
UBS Group AG Has $8.35 Million Position in Zions Bancorporation NA
Signaturefd LLC Buys Shares of 1,000 InMode Ltd.
Signaturefd LLC Buys Shares of 1,000 InMode Ltd.


© 2006-2020 Ticker Report