ViacomCBS (NASDAQ:VIAC) Upgraded to “Outperform” at Wolfe Research
Wolfe Research upgraded shares of ViacomCBS (NASDAQ:VIAC) from a peer perform rating to an outperform rating in a research note published on Wednesday, Price Targets.com reports. The brokerage currently has $70.00 target price on the stock, down from their prior target price of $80.00.
Other equities research analysts also recently issued reports about the stock. Evercore ISI lifted their price target on shares of ViacomCBS from $40.00 to $50.00 in a report on Thursday, February 25th. Bank of America lowered ViacomCBS from a neutral rating to an underperform rating and increased their price target for the stock from $30.00 to $32.00 in a research note on Friday, December 18th. Rosenblatt Securities upped their target price on ViacomCBS from $30.00 to $61.00 and gave the company a neutral rating in a research note on Thursday, March 11th. Needham & Company LLC lifted their price target on ViacomCBS from $55.00 to $80.00 and gave the company a buy rating in a report on Wednesday, March 3rd. Finally, Barrington Research lowered shares of ViacomCBS from an outperform rating to a market perform rating in a report on Thursday, February 25th. Eight research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $47.46.
VIAC stock opened at $43.89 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.69 and a quick ratio of 1.45. ViacomCBS has a 12 month low of $14.39 and a 12 month high of $101.97. The firm has a market capitalization of $27.19 billion, a PE ratio of 19.95, a P/E/G ratio of 1.06 and a beta of 1.79. The company’s 50 day simple moving average is $69.80 and its 200-day simple moving average is $44.96.
The business also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 15th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Friday, March 12th. ViacomCBS’s dividend payout ratio is presently 19.16%.
In other ViacomCBS news, Director Linda M. Griego sold 6,000 shares of the business’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $64.51, for a total value of $387,060.00. Following the transaction, the director now owns 39,230 shares in the company, valued at approximately $2,530,727.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Richard M. Jones sold 40,285 shares of the firm’s stock in a transaction dated Wednesday, March 10th. The shares were sold at an average price of $80.62, for a total value of $3,247,776.70. Following the sale, the executive vice president now owns 28,217 shares of the company’s stock, valued at $2,274,854.54. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sunbelt Securities Inc. increased its holdings in ViacomCBS by 14.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 106,172 shares of the company’s stock worth $2,974,000 after purchasing an additional 13,534 shares during the last quarter. Dupont Capital Management Corp raised its holdings in ViacomCBS by 52.9% in the fourth quarter. Dupont Capital Management Corp now owns 89,582 shares of the company’s stock valued at $3,338,000 after acquiring an additional 31,002 shares in the last quarter. Financial Counselors Inc. boosted its stake in ViacomCBS by 0.5% during the 4th quarter. Financial Counselors Inc. now owns 376,191 shares of the company’s stock valued at $14,017,000 after acquiring an additional 1,797 shares during the last quarter. Strs Ohio increased its position in shares of ViacomCBS by 7,811.4% in the 4th quarter. Strs Ohio now owns 541,931 shares of the company’s stock worth $20,192,000 after purchasing an additional 535,081 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of ViacomCBS by 47.8% in the 4th quarter. Teacher Retirement System of Texas now owns 55,360 shares of the company’s stock valued at $2,063,000 after purchasing an additional 17,911 shares in the last quarter. 80.47% of the stock is owned by hedge funds and other institutional investors.
ViacomCBS, Inc operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films as well as the Company’s digital streaming services, CBS All Access and CBSN.
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