Wellington Shields & Co. LLC bought a new position in shares of Viacom Inc. (NASDAQ:VIAB) during the second quarter, according to its most recent disclosure with the SEC. The fund bought 15,976 shares of the company’s stock, valued at approximately $536,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in Viacom by 15.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,202 shares of the company’s stock worth $103,000 after buying an additional 300 shares during the period. Fifth Third Bancorp increased its stake in shares of Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after buying an additional 225 shares during the period. First Personal Financial Services increased its stake in shares of Viacom by 998.2% in the first quarter. First Personal Financial Services now owns 3,086 shares of the company’s stock worth $144,000 after buying an additional 2,805 shares during the period. Delta Asset Management LLC TN increased its stake in shares of Viacom by 12.2% in the second quarter. Delta Asset Management LLC TN now owns 4,358 shares of the company’s stock worth $146,000 after buying an additional 475 shares during the period. Finally, Whittier Trust Co. increased its stake in shares of Viacom by 80.6% in the first quarter. Whittier Trust Co. now owns 3,192 shares of the company’s stock worth $149,000 after buying an additional 1,425 shares during the period. Hedge funds and other institutional investors own 77.33% of the company’s stock.
Shares of Viacom Inc. (VIAB) traded down 13.83% during midday trading on Friday, hitting $30.22. 24,229,741 shares of the company’s stock traded hands. The company has a 50 day moving average price of $34.80 and a 200 day moving average price of $39.46. Viacom Inc. has a 1-year low of $30.21 and a 1-year high of $46.72. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 9.99 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. Viacom had a net margin of 11.04% and a return on equity of 32.45%. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the firm earned $1.05 earnings per share. Viacom’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Viacom Inc. will post $3.86 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, September 14th. Viacom’s dividend payout ratio is currently 21.98%.
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A number of analysts have recently commented on VIAB shares. FBR & Co lifted their target price on Viacom from $45.00 to $48.00 and gave the stock a “mkt perform” rating in a research report on Monday, April 10th. Rosenblatt Securities reiterated an “underweight” rating on shares of Viacom in a research report on Friday, April 14th. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 target price on shares of Viacom in a research report on Monday, April 17th. Pivotal Research reiterated a “hold” rating and set a $40.00 target price on shares of Viacom in a research report on Sunday, April 23rd. Finally, Royal Bank Of Canada dropped their price target on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research report on Friday, May 5th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. Viacom has a consensus rating of “Hold” and a consensus target price of $43.13.
About Viacom
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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