Pictet Asset Management Ltd. Reduces Position in CBS Co. (CBS)

Pictet Asset Management Ltd. decreased its position in CBS Co. (NYSE:CBS) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,244 shares of the media conglomerate’s stock after selling 3,200 shares during the period. Pictet Asset Management Ltd.’s holdings in CBS were worth $9,781,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Independent Advisor Alliance grew its stake in shares of CBS by 41.0% in the 3rd quarter. Independent Advisor Alliance now owns 6,732 shares of the media conglomerate’s stock valued at $375,000 after buying an additional 1,959 shares during the period. D.A. Davidson & CO. grew its stake in shares of CBS by 140.2% in the 3rd quarter. D.A. Davidson & CO. now owns 22,719 shares of the media conglomerate’s stock valued at $1,305,000 after buying an additional 13,261 shares during the period. Korea Investment CORP grew its stake in shares of CBS by 18.2% in the 3rd quarter. Korea Investment CORP now owns 350,772 shares of the media conglomerate’s stock valued at $20,152,000 after buying an additional 54,030 shares during the period. Menora Mivtachim Holdings LTD. purchased a new stake in shares of CBS in the 3rd quarter valued at approximately $23,264,000. Finally, Matrix Asset Advisors Inc. NY grew its stake in shares of CBS by 10.1% in the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 176,615 shares of the media conglomerate’s stock valued at $10,147,000 after buying an additional 16,231 shares during the period. 68.78% of the stock is owned by institutional investors and hedge funds.

CBS has been the subject of several analyst reports. Imperial Capital reissued a “buy” rating on shares of CBS in a research note on Monday, November 5th. Barrington Research reissued a “buy” rating and issued a $73.00 price target on shares of CBS in a research note on Monday, September 10th. B. Riley increased their price target on shares of CBS from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 26th. Benchmark reissued a “buy” rating and issued a $90.00 price target on shares of CBS in a research note on Friday, November 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $65.00 price target on shares of CBS in a research note on Monday, October 15th. Thirteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $66.14.

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

Shares of CBS stock opened at $51.10 on Friday. The company has a current ratio of 1.51, a quick ratio of 1.05 and a debt-to-equity ratio of 3.76. CBS Co. has a one year low of $47.54 and a one year high of $61.59. The company has a market capitalization of $19.21 billion, a PE ratio of 12.20, a P/E/G ratio of 0.66 and a beta of 1.19.

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

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

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About CBS

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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