Stephens Inc. AR trimmed its position in shares of CBS Co. (NYSE:CBS) by 18.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,182 shares of the media conglomerate’s stock after selling 1,163 shares during the period. Stephens Inc. AR’s holdings in CBS were worth $306,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. American Trust Investment Advisors LLC lifted its position in shares of CBS by 12.9% during the fourth quarter. American Trust Investment Advisors LLC now owns 26,140 shares of the media conglomerate’s stock valued at $1,542,000 after buying an additional 2,990 shares during the last quarter. Harvey Capital Management Inc. lifted its position in shares of CBS by 18.0% during the fourth quarter. Harvey Capital Management Inc. now owns 160,046 shares of the media conglomerate’s stock valued at $9,442,000 after buying an additional 24,385 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of CBS by 2.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 67,044 shares of the media conglomerate’s stock valued at $3,956,000 after buying an additional 1,406 shares during the last quarter. Steinberg Global Asset Management lifted its position in shares of CBS by 59.9% during the fourth quarter. Steinberg Global Asset Management now owns 18,424 shares of the media conglomerate’s stock valued at $1,087,000 after buying an additional 6,904 shares during the last quarter. Finally, Parsons Capital Management Inc. RI lifted its position in shares of CBS by 10.5% during the fourth quarter. Parsons Capital Management Inc. RI now owns 10,544 shares of the media conglomerate’s stock valued at $622,000 after buying an additional 1,005 shares during the last quarter. 75.31% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on CBS shares. Morgan Stanley started coverage on shares of CBS in a research report on Wednesday, December 6th. They set an “overweight” rating and a $68.00 price target for the company. Stephens started coverage on shares of CBS in a research report on Thursday, December 14th. They set an “overweight” rating and a $70.00 price target for the company. Zacks Investment Research raised shares of CBS from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Macquarie lowered shares of CBS from an “outperform” rating to a “neutral” rating and set a $60.00 price target for the company. in a research report on Tuesday, January 2nd. Finally, Cowen reissued a “buy” rating and set a $69.00 price target on shares of CBS in a research report on Friday, October 27th. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $70.91.

In related news, CEO Leslie Moonves sold 85,000 shares of the 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 owns 884,513 shares in the company, valued at approximately $51,169,077.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Arnold Kopelson sold 5,093 shares of the 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 disclosure for this sale can be found here. In the last quarter, insiders sold 226,377 shares of company stock worth $13,319,103. 1.67% of the stock is owned by corporate insiders.

CBS Co. (NYSE:CBS) opened at $55.85 on Thursday. CBS Co. has a fifty-two week low of $50.63 and a fifty-two week high of $70.10. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.55 and a quick ratio of 1.10. The firm has a market cap of $21,877.73, a P/E ratio of 12.71, a P/E/G ratio of 0.82 and a beta of 1.50.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.72 annualized dividend and a yield of 1.29%. CBS’s dividend payout ratio (DPR) is presently 98.63%.

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About CBS

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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