Commonwealth Bank of Australia raised its position in Viacom Inc. (NASDAQ:VIAB) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,622 shares of the company’s stock after acquiring an additional 5,839 shares during the quarter. Commonwealth Bank of Australia’s holdings in Viacom were worth $4,081,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Engineers Gate Manager LP purchased a new position in shares of Viacom in the second quarter valued at about $1,034,000. Freestone Capital Holdings LLC increased its position in shares of Viacom by 1.9% in the second quarter. Freestone Capital Holdings LLC now owns 495,000 shares of the company’s stock valued at $16,617,000 after acquiring an additional 9,292 shares during the period. Sterling Investment Advisors Ltd. increased its position in shares of Viacom by 26.5% in the second quarter. Sterling Investment Advisors Ltd. now owns 21,480 shares of the company’s stock valued at $721,000 after acquiring an additional 4,500 shares during the period. Matrix Asset Advisors Inc. NY increased its position in shares of Viacom by 33.2% in the second quarter. Matrix Asset Advisors Inc. NY now owns 244,155 shares of the company’s stock valued at $8,196,000 after acquiring an additional 60,815 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in shares of Viacom in the second quarter valued at about $349,000. Hedge funds and other institutional investors own 79.17% of the company’s stock.
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Viacom Inc. (NASDAQ:VIAB) opened at 27.67 on Friday. The stock has a market capitalization of $11.13 billion, a PE ratio of 7.61 and a beta of 1.59. Viacom Inc. has a 1-year low of $26.65 and a 1-year high of $46.72. The company’s 50-day moving average is $29.74 and its 200 day moving average is $36.52.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.05 by $0.12. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. Equities analysts predict that Viacom Inc. will post $3.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, September 14th. Viacom’s payout ratio is presently 21.98%.
A number of equities analysts have issued reports on VIAB shares. UBS AG decreased their price objective on shares of Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and issued a $52.00 price objective on shares of Viacom in a report on Thursday, August 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Viacom in a research note on Thursday, July 6th. BidaskClub upgraded shares of Viacom from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Barclays PLC restated a “neutral” rating on shares of Viacom in a research report on Monday, August 7th. Six equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $42.04.
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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