California State Teachers Retirement System cut its position in Viacom, Inc. (NASDAQ:VIAB) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 643,671 shares of the company’s stock after selling 24,981 shares during the period. California State Teachers Retirement System owned approximately 0.16% of Viacom worth $17,920,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in VIAB. Vanguard Group Inc. increased its holdings in shares of Viacom by 28.9% in the second quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company’s stock valued at $972,330,000 after purchasing an additional 6,496,269 shares during the period. Steadfast Capital Management LP acquired a new stake in Viacom during the second quarter worth about $117,707,000. Prudential Financial Inc. grew its holdings in Viacom by 167.2% during the second quarter. Prudential Financial Inc. now owns 3,888,900 shares of the company’s stock worth $130,551,000 after acquiring an additional 2,433,220 shares during the period. FMR LLC grew its holdings in Viacom by 17.3% during the second quarter. FMR LLC now owns 10,918,953 shares of the company’s stock worth $366,551,000 after acquiring an additional 1,607,844 shares during the period. Finally, BlackRock Inc. grew its holdings in Viacom by 6.4% during the second quarter. BlackRock Inc. now owns 22,863,371 shares of the company’s stock worth $767,522,000 after acquiring an additional 1,377,520 shares during the period. 79.20% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on VIAB. Pivotal Research reaffirmed a “hold” rating and set a $30.00 target price (up from $27.00) on shares of Viacom in a report on Tuesday. Wells Fargo & Co reaffirmed a “market perform” rating and set a $32.00 target price (up from $25.00) on shares of Viacom in a report on Thursday, January 4th. Barrington Research lowered Viacom from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 2nd. Macquarie lowered Viacom from a “neutral” rating to an “underperform” rating and set a $26.00 target price on the stock. in a report on Tuesday, January 2nd. Finally, Loop Capital reaffirmed a “hold” rating and set a $28.00 target price on shares of Viacom in a report on Wednesday, December 27th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company’s stock. Viacom presently has an average rating of “Hold” and a consensus target price of $35.04.
Shares of Viacom, Inc. (VIAB) traded up $2.95 during trading on Friday, reaching $33.76. The company had a trading volume of 12,817,331 shares, compared to its average volume of 5,070,000. Viacom, Inc. has a 52-week low of $22.13 and a 52-week high of $46.72. The stock has a market capitalization of $13,840.00, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 1.03 and a beta of 1.60. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.30 and a current ratio of 1.55.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Thursday, November 16th. The company reported $0.77 EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.09). Viacom had a return on equity of 28.95% and a net margin of 14.13%. The company had revenue of $3.32 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the business posted $1.54 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. equities analysts predict that Viacom, Inc. will post 3.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.37%. Viacom’s payout ratio is 17.17%.
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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