Alps Advisors Inc. Purchases Shares of 21,127 CBS Co. (CBS)

Alps Advisors Inc. purchased a new position in CBS Co. (NYSE:CBS) in the third quarter, Holdings Channel reports. The institutional investor purchased 21,127 shares of the media conglomerate’s stock, valued at approximately $1,214,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. World Asset Management Inc grew its stake in CBS by 3.5% in the 2nd quarter. World Asset Management Inc now owns 26,640 shares of the media conglomerate’s stock worth $1,498,000 after buying an additional 908 shares in the last quarter. Nwam LLC grew its stake in CBS by 15.3% in the 3rd quarter. Nwam LLC now owns 7,035 shares of the media conglomerate’s stock worth $404,000 after buying an additional 932 shares in the last quarter. Kistler Tiffany Companies LLC grew its stake in CBS by 29.7% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 4,363 shares of the media conglomerate’s stock worth $251,000 after buying an additional 1,000 shares in the last quarter. Advisor Partners LLC grew its stake in CBS by 18.9% in the 2nd quarter. Advisor Partners LLC now owns 6,763 shares of the media conglomerate’s stock worth $380,000 after buying an additional 1,074 shares in the last quarter. Finally, Ingalls & Snyder LLC grew its stake in CBS by 11.8% in the 3rd quarter. Ingalls & Snyder LLC now owns 10,433 shares of the media conglomerate’s stock worth $599,000 after buying an additional 1,100 shares in the last quarter. 74.84% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Anthony G. Ambrosio sold 2,100 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $55.16, for a total transaction of $115,836.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Anthony G. Ambrosio sold 3,449 shares of the company’s stock in a transaction on Tuesday, October 9th. The shares were 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 of the company’s stock, valued at $4,192,724.34. The disclosure for this sale can be found here. Insiders have sold a total of 17,246 shares of company stock valued at $987,668 over the last quarter. 1.80% of the stock is currently owned by company insiders.

Shares of CBS opened at $57.35 on Thursday. The company has a market capitalization of $20.24 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.68 and a beta of 1.36. The company has a debt-to-equity ratio of 4.37, a current ratio of 1.60 and a quick ratio of 1.10. CBS Co. has a fifty-two week low of $47.54 and a fifty-two week high of $61.59.

CBS (NYSE:CBS) last announced its quarterly earnings data on Thursday, August 2nd. The media conglomerate reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.01. CBS had a net margin of 10.21% and a return on equity of 81.10%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the previous year, the business posted $1.04 EPS. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts expect that CBS Co. will post 5.25 earnings per share for the current year.

A number of equities analysts have commented on the stock. Cowen cut shares of CBS from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. Royal Bank of Canada set a $63.00 price target on shares of CBS and gave the stock a “buy” rating in a research note on Friday, August 3rd. ValuEngine raised shares of CBS from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. Zacks Investment Research lowered shares of CBS from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. Finally, Pivotal Research restated a “hold” rating and issued a $53.00 price objective on shares of CBS in a report on Tuesday, July 31st. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.08.

CBS 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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