Pioneer Investment Management Inc. bought a new stake in Viacom, Inc. (NASDAQ:VIAB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 339,534 shares of the company’s stock, valued at approximately $15,829,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. World Asset Management Inc boosted its position in Viacom by 2.0% in the third quarter. World Asset Management Inc now owns 39,340 shares of the company’s stock worth $1,499,000 after buying an additional 789 shares in the last quarter. Manning & Napier Advisors LLC boosted its position in Viacom by 5.1% in the third quarter. Manning & Napier Advisors LLC now owns 37,659 shares of the company’s stock worth $1,434,000 after buying an additional 1,831 shares in the last quarter. Wells Fargo & Company MN boosted its position in Viacom by 12.3% in the third quarter. Wells Fargo & Company MN now owns 1,251,711 shares of the company’s stock worth $47,689,000 after buying an additional 136,722 shares in the last quarter. State of Wisconsin Investment Board boosted its position in Viacom by 68.7% in the third quarter. State of Wisconsin Investment Board now owns 616,781 shares of the company’s stock worth $23,499,000 after buying an additional 251,182 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in Viacom by 89.5% in the third quarter. APG Asset Management N.V. now owns 1,347,650 shares of the company’s stock worth $51,345,000 after buying an additional 636,600 shares in the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.
Viacom, Inc. (NASDAQ:VIAB) traded up 3.56% during trading on Friday, reaching $35.20. The company had a trading volume of 6,792,275 shares. The stock has a 50 day moving average price of $41.21 and a 200-day moving average price of $40.19. Viacom, Inc. has a 52-week low of $33.44 and a 52-week high of $46.72. The company has a market capitalization of $14.14 billion, a PE ratio of 11.64 and a beta of 1.33.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.20. Viacom had a net margin of 10.94% and a return on equity of 33.25%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that Viacom, Inc. will post $3.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.27%. The ex-dividend date is Tuesday, June 13th. Viacom’s dividend payout ratio (DPR) is 22.92%.
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A number of research firms recently commented on VIAB. BMO Capital Markets decreased their price objective on Viacom from $44.00 to $42.00 and set a “market perform” rating on the stock in a report on Monday. Barrington Research reiterated an “outperform” rating on shares of Viacom in a report on Friday. Royal Bank of Canada decreased their price objective on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a report on Monday. Guggenheim upped their price objective on Viacom from $48.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Viacom in a report on Thursday, February 16th. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.95.
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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