Principal Financial Group Inc. boosted its stake in shares of Viacom Inc. (NASDAQ:VIAB) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 539,343 shares of the company’s stock after buying an additional 11,420 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Viacom worth $22,367,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. AXA raised its position in shares of Viacom by 380.4% in the first quarter. AXA now owns 1,969,784 shares of the company’s stock valued at $81,312,000 after buying an additional 1,559,774 shares during the period. PGGM Investments raised its position in shares of Viacom by 336.8% in the second quarter. PGGM Investments now owns 1,004,717 shares of the company’s stock valued at $41,666,000 after buying an additional 774,693 shares during the period. Royal Bank of Canada raised its position in shares of Viacom by 104.1% in the first quarter. Royal Bank of Canada now owns 1,074,641 shares of the company’s stock valued at $44,362,000 after buying an additional 548,080 shares during the period. Prudential Financial Inc. raised its position in shares of Viacom by 49.0% in the first quarter. Prudential Financial Inc. now owns 1,483,137 shares of the company’s stock valued at $61,224,000 after buying an additional 487,930 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Viacom by 4.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 11,026,497 shares of the company’s stock valued at $455,174,000 after buying an additional 450,834 shares during the period. 76.12% of the stock is currently owned by institutional investors and hedge funds.
Viacom Inc. (NASDAQ:VIAB) traded down 0.45% during trading on Friday, reaching $37.60. The company’s stock had a trading volume of 1,895,793 shares. The company has a market cap of $14.91 billion, a price-to-earnings ratio of 7.24 and a beta of 1.43. Viacom Inc. has a 12 month low of $30.11 and a 12 month high of $53.35. The stock’s 50 day moving average is $39.40 and its 200 day moving average is $41.32.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.01 billion. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 earnings per share. On average, equities analysts expect that Viacom Inc. will post $3.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.12%. Viacom’s dividend payout ratio (DPR) is presently 15.41%.
Several equities analysts have recently issued reports on VIAB shares. Jefferies Group reaffirmed a “buy” rating and set a $49.00 price target on shares of Viacom in a research note on Tuesday, September 20th. Brean Capital raised Viacom from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, September 13th. Pivotal Research reissued a “buy” rating and issued a $52.00 target price on shares of Viacom in a research note on Sunday, July 24th. Vetr lowered Viacom from a “buy” rating to a “hold” rating and set a $44.78 target price on the stock. in a research note on Wednesday, August 17th. Finally, FBR & Co cut their target price on Viacom from $67.00 to $59.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 26th. Four analysts have rated the stock with a sell rating, twenty-two have given a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $44.09.
Viacom Company Profile
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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