Was $30 the Near Term Low for Colossal CBS Shareholders?

So far in 2012, CBS Corporation’s (NYSE:CBS) shares are up 16.18 percent. On Wednesday, CFO and Executive VP Joe Ianniello said the company is prepared to hold out as a leader in the broadcast upfront advertising market. Speaking at the Bank of America Merrill Lynch Global Telecom & Media Conference, Ianniello said CBS’ upfront business has not yet been written but reiterated the strong ratings at the company’s network. He cited the network has already sold out more than 50 percent of ad inventory for the 2013 Super Bowl, according to The Hollywood Reporter, and that prices are north of last year’s; Super Bowl revenues could exceed $200 million.

In addition, when asked about a possible sale of the CBS outdoor ad business, Ianniello responded he is always open to sensible deal, but in this case, the outdoor unit has its eyes on sales.

With the positive remarks about the upfront advertising market, will CBS’ largest shareholders increase their positions in the company? 571 institutional firms indicated owning shares of CBS Corporation (NYSE:CBS) in Q1 2012. These firms reported owning a total of 490.71 million shares on 03/31/2012. The shares closed at $33.91 on 03/31/2012.

Here are the ten largest positions in CBS Corporation at the end of March 31st, 2012.

Waddell & Reed Financial Inc held 41,566,100 shares on 03/31/2012 worth $1,409,506,445. This brought the portfolio total to 3.22%.

JPMorgan Chase & Co held 29,006,915 shares on 03/31/2012 worth $983,624,483. This brought the portfolio total to 0.4%.

Vanguard Group Inc held 26,803,752 shares on 03/31/2012 worth $908,915,226. This brought the portfolio total to 0.12%.

State Street Corp held 23,550,639 shares on 03/31/2012 worth $798,602,165. This brought the portfolio total to 0.12%.

Janus Capital Management LLC held 23,334,468 shares on 03/31/2012 worth $791,271,806. This brought the portfolio total to 0.82%.

Blackrock Institutional Trust Company N.A. held 17,193,993 shares on 03/31/2012 worth $583,048,300. This brought the portfolio total to 0.13%.

Bank of New York Mellon Corp held 15,083,385 shares on 03/31/2012 worth $511,477,583. This brought the portfolio total to 0.2%.

Barrow Hanley Mewhinney & Strauss LLC held 11,148,774 shares on 03/31/2012 worth $378,054,925. This brought the portfolio total to 0.74%.

Robeco Investment Management Inc. held 9,498,599 shares on 03/31/2012 worth $322,097,491. This brought the portfolio total to 1.33%.

Ameriprise Financial Inc held 8,358,692 shares on 03/31/2012 worth $283,443,244. This brought the portfolio total to 0.2%.

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