The Vanguard Group, Inc. recently announced the acquisition of new stake in ViacomCBS Inc. (NASDAQ:VIAC). The institutional investor has increased its shareholding in the Communication Services company by 20.80% to 58.84 million shares with purchase of 10.13 million shares. This fresh investment now brings its stake to 10.45% valued currently at $1.53 billion. In addition, BlackRock Fund Advisors raised its holdings by 8.71 million to 35.03 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.57% or 0.5 million shares – to 32.31 million shares.
With over 6.87 million ViacomCBS Inc. (VIAC) shares trading Monday and a closing price of $27.85 on the day, the dollar volume was approximately $191.3 million. The shares have shown a positive weekly performance of 0.76% and its price on 08/31/20 lost nearly -0.50%. Currently, there are 615.00M common shares owned by the public and among those 551.25M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for VIAC have a consensus price objective of $27.26. The analysts have set the share’s price value over the next 12 months at a high of $36.00 and a low of $14.60 should the stock experience a downside. Incidentally, analysts’ outlook for the ViacomCBS Inc. stock is 2.60 for the next 12 months. The average price target is -23.89% below its last price level and a downside to the estimated low will see the stock lose -90.75% over that period. But an upside of 22.64% will see the stock hit the forecast high price target while mean target price for the stock is $28.00.
Insiders at the company have transacted a total of 5 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 5 of these insider trades were purchases, accounting for 7,292 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in ViacomCBS Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 15.55 million shares of the company’s stock, all valued at over $405.35 million. The company sold 45666.0 shares recently to bring their total holdings to about 2.76% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.11 million shares to see its total holdings shrink to 13.24 million shares valued at over $345.18 million and representing 2.35% of the shares outstanding. Vanguard 500 Index Fund sold 68291.0 shares to bring its total holdings to over 11.15 million shares at a value of $290.69 million. Vanguard 500 Index Fund now owns shares totaling to 1.98% of the shares outstanding.
Shares of ViacomCBS Inc. (NASDAQ: VIAC) opened at $27.82, down -$0.17 from a prior closing price of $27.99. However, the script later closed the day at $27.85, down -0.50%. The company’s stock has a 5-day price change of 0.76% and 27.52% over the past three months. VIAC shares are trading -33.64% year to date (YTD), with the 12-month market performance down to -33.79% lower. It has a 12-month low price of $10.10 and touched a high of $44.94 over the same period. Currently, 6.87 million shares have been traded, compared to an average intraday trading volume of 11.78 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.41%, 10.51%, and 3.45% respectively.
Institutional ownership of ViacomCBS Inc. (NASDAQ: VIAC) shares accounts for 83.10% of the company’s 615.00M shares outstanding. Mutual fund holders own 41.17%, while other institutional holders and individual stakeholders account for 41.66% and 0.15% respectively.
It has a market capitalization of $17.49B and a beta (3y monthly) value of 1.88. The stock’s trailing 12-month PE ratio is 7.12, while the earnings-per-share (ttm) stands at $3.91. The company has a PEG of 4.95 and a Quick Ratio of 1.30 with the debt-to-equity ratio at 1.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.78% over the week and 4.01% over the month.
Analysts forecast that ViacomCBS Inc. (VIAC) will achieve an EPS of $IAC/InterActiveCorp for the current quarter, $132.99 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Viavi Solutions Inc. while analysts give the company a high EPS estimate of $Marriot Vacations Worldwide Cor. Comparatively, EPS for the current quarter was $VIACA a year ago. Earnings per share for the fiscal year are expected to decrease by -2.90%, and 12.05% over the next financial year. EPS should shrink at an annualized rate of 1.44% over the next five years, compared to 16.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 28 brokerage firm advisors rate ViacomCBS Inc. (VIAC) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 16 of the 28 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VIAC, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on August 27, 2020, with the firm’s price target at $19-$30. Goldman coverage for the ViacomCBS Inc. (VIAC) stock in a research note released on July 13, 2020 offered a Buy rating with a price target of $34. BofA Securities was of a view on July 13, 2020 that the stock is Neutral, while Barrington Research gave the stock Outperform rating on May 11, 2020, issuing a price target of. RBC Capital Mkts on their part issued Sector Perform rating on April 28, 2020.