Exxonmobil Investment Management Inc. TX Sells 8,830 Shares of CBS Corporation (CBS)

Exxonmobil Investment Management Inc. TX lessened its stake in shares of CBS Corporation (NYSE:CBS) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,652 shares of the media conglomerate’s stock after selling 8,830 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in CBS were worth $3,401,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Icon Advisers Inc. Co. increased its position in shares of CBS by 16.9% during the second quarter. Icon Advisers Inc. Co. now owns 59,504 shares of the media conglomerate’s stock worth $3,795,000 after acquiring an additional 8,600 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of CBS by 0.7% during the second quarter. Ameriprise Financial Inc. now owns 419,333 shares of the media conglomerate’s stock worth $26,774,000 after acquiring an additional 2,817 shares during the last quarter. Amalgamated Bank increased its position in shares of CBS by 53.2% during the second quarter. Amalgamated Bank now owns 42,344 shares of the media conglomerate’s stock worth $2,701,000 after acquiring an additional 14,700 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of CBS by 2.7% during the second quarter. Thrivent Financial For Lutherans now owns 14,130 shares of the media conglomerate’s stock worth $901,000 after acquiring an additional 370 shares during the last quarter. Finally, Cibc World Markets Corp increased its position in shares of CBS by 34.0% during the second quarter. Cibc World Markets Corp now owns 52,046 shares of the media conglomerate’s stock worth $3,319,000 after acquiring an additional 13,209 shares during the last quarter. Institutional investors own 74.77% of the company’s stock.

A number of brokerages have recently issued reports on CBS. Piper Jaffray Companies set a $70.00 target price on CBS and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Wells Fargo & Co reaffirmed an “outperform” rating and set a $70.00 target price (down from $75.00) on shares of CBS in a research report on Thursday, January 4th. Cowen reaffirmed a “buy” rating on shares of CBS in a research report on Thursday, September 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $80.00 target price on shares of CBS in a research report on Wednesday, September 20th. Finally, ValuEngine lowered CBS from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $72.04.

In other news, Director Arnold Kopelson sold 5,093 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $59.51, for a total transaction of $303,084.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leslie Moonves sold 85,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $57.85, for a total value of $4,917,250.00. Following the transaction, the chief executive officer now directly owns 884,513 shares of the company’s stock, valued at $51,169,077.05. The disclosure for this sale can be found here. Insiders have sold 100,279 shares of company stock valued at $5,794,978 over the last ninety days. Corporate insiders own 1.67% of the company’s stock.

Shares of CBS Corporation (CBS) opened at $58.83 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.55 and a debt-to-equity ratio of 3.03. The firm has a market capitalization of $23,122.29, a PE ratio of 13.44, a P/E/G ratio of 0.92 and a beta of 1.62. CBS Corporation has a fifty-two week low of $52.75 and a fifty-two week high of $70.10.

CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, November 2nd. The media conglomerate reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.04. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.26 billion. CBS had a return on equity of 58.49% and a net margin of 2.14%. CBS’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. equities analysts anticipate that CBS Corporation will post 4.39 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Monday, December 11th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, December 8th. CBS’s dividend payout ratio (DPR) is presently 98.63%.

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CBS Company Profile

CBS Corporation is a mass media company. The Company operates through four segment: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company’s digital streaming services, CBS All Access and CBSN.

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Institutional Ownership by Quarter for CBS (NYSE:CBS)

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