Bank of America Corp. upgraded shares of Viacom Inc. (NASDAQ:VIA) from an underperform rating to a buy rating in a research report report published on Thursday. They currently have $44.00 price objective on the stock, up from their previous price objective of $37.00.
Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada reissued a sector perform rating and issued a $45.00 price target (up previously from $34.00) on shares of Viacom in a report on Friday, June 17th. Wunderlich reissued a buy rating and issued a $87.00 price target on shares of Viacom in a report on Friday, June 17th. Brean Capital assumed coverage on shares of Viacom in a report on Thursday, July 7th. They issued a hold rating on the stock. Telsey Advisory Group reissued an outperform rating and issued a $51.00 price target (down previously from $53.00) on shares of Viacom in a report on Saturday, August 6th. Finally, Drexel Hamilton reissued a hold rating on shares of Viacom in a report on Friday, June 17th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. Viacom presently has an average rating of Hold and an average target price of $48.67.
Viacom (NASDAQ:VIA) opened at 40.55 on Thursday. Viacom has a 12-month low of $33.88 and a 12-month high of $54.69. The firm has a market cap of $16.08 billion, a price-to-earnings ratio of 7.81 and a beta of 1.17. The company has a 50-day moving average of $42.02 and a 200 day moving average of $45.19.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 26th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.97%. Viacom’s dividend payout ratio (DPR) is currently 15.41%.
A number of hedge funds and other institutional investors have recently modified their holdings of VIA. State Board of Administration of Florida Retirement System boosted its position in shares of Viacom by 7,099.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 532,733 shares of the company’s stock worth $22,130,000 after buying an additional 525,333 shares during the period. SkyBridge Capital II LLC purchased a new position in shares of Viacom during the second quarter valued at about $13,776,000. S. Muoio & CO. LLC boosted its position in shares of Viacom by 71.3% in the first quarter. S. Muoio & CO. LLC now owns 124,411 shares of the company’s stock valued at $5,636,000 after buying an additional 51,800 shares during the period. FMR LLC boosted its position in shares of Viacom by 12.5% in the second quarter. FMR LLC now owns 450,000 shares of the company’s stock valued at $20,889,000 after buying an additional 50,000 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Viacom by 93.8% in the second quarter. BlackRock Fund Advisors now owns 95,299 shares of the company’s stock valued at $4,424,000 after buying an additional 46,122 shares during the period. 2.18% of the stock is owned by institutional investors.
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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