Intellectus Partners LLC Raises Stake in CBS Corporation (CBS)

Intellectus Partners LLC grew its position in CBS Corporation (NYSE:CBS) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,601 shares of the media conglomerate’s stock after purchasing an additional 509 shares during the period. Intellectus Partners LLC’s holdings in CBS Corporation were worth $422,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Green Square Capital LLC lifted its holdings in shares of CBS Corporation by 18.4% in the second quarter. Green Square Capital LLC now owns 7,390 shares of the media conglomerate’s stock valued at $473,000 after purchasing an additional 1,150 shares in the last quarter. Raine Capital LLC lifted its holdings in shares of CBS Corporation by 33.3% in the second quarter. Raine Capital LLC now owns 80,000 shares of the media conglomerate’s stock valued at $5,102,000 after purchasing an additional 20,000 shares in the last quarter. Fred Alger Management Inc. lifted its holdings in shares of CBS Corporation by 0.6% in the second quarter. Fred Alger Management Inc. now owns 4,880,086 shares of the media conglomerate’s stock valued at $311,252,000 after purchasing an additional 29,986 shares in the last quarter. Bank of Hawaii lifted its holdings in shares of CBS Corporation by 0.3% in the second quarter. Bank of Hawaii now owns 18,458 shares of the media conglomerate’s stock valued at $1,177,000 after purchasing an additional 50 shares in the last quarter. Finally, Cibc World Markets Corp lifted its holdings in shares of CBS Corporation by 34.0% in the second quarter. Cibc World Markets Corp now owns 52,046 shares of the media conglomerate’s stock valued at $3,319,000 after purchasing an additional 13,209 shares in the last quarter. Institutional investors own 75.05% of the company’s stock.

CBS Corporation (NYSE:CBS) last posted its quarterly earnings results on Monday, August 7th. The media conglomerate reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.07. CBS Corporation had a net margin of 1.27% and a return on equity of 49.51%. The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. CBS Corporation’s revenue was up 9.4% on a year-over-year basis.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Friday, September 8th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $0.72 dividend on an annualized basis and a yield of 1.26%. CBS Corporation’s dividend payout ratio is 211.76%.

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In related news, EVP Gil D. Schwartz sold 5,270 shares of CBS Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $65.40, for a total value of $344,658.00. Following the completion of the transaction, the executive vice president now directly owns 60,322 shares in the company, valued at approximately $3,945,058.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Anthony G. Ambrosio sold 8,167 shares of CBS Corporation stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $65.96, for a total transaction of $538,695.32. The disclosure for this sale can be found here. Insiders sold a total of 517,568 shares of company stock valued at $31,245,604 over the last quarter. 1.67% of the stock is owned by company insiders.

A number of brokerages have recently commented on CBS. BidaskClub upgraded CBS Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Argus reiterated a “buy” rating and set a $79.00 target price (up previously from $71.00) on shares of CBS Corporation in a report on Thursday, August 10th. Barclays PLC set a $57.00 target price on CBS Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of CBS Corporation in a report on Tuesday, August 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $77.00 target price (up previously from $75.00) on shares of CBS Corporation in a report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $74.94.

CBS Corporation 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 Corporation (NYSE:CBS)

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