Granite Investment Advisors LLC Has $6.36 Million Position in Viacom Inc. (VIAB)

Granite Investment Advisors LLC boosted its stake in shares of Viacom Inc. (NASDAQ:VIAB) by 59.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,624 shares of the company’s stock after buying an additional 67,693 shares during the period. Granite Investment Advisors LLC’s holdings in Viacom were worth $6,359,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of Viacom by 55.6% in the fourth quarter. Macquarie Group Ltd. now owns 24,325 shares of the company’s stock valued at $853,000 after buying an additional 8,691 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of Viacom by 3.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 300,003 shares of the company’s stock valued at $13,987,000 after buying an additional 9,263 shares during the period. Manning & Napier Advisors LLC increased its position in shares of Viacom by 10.7% in the first quarter. Manning & Napier Advisors LLC now owns 44,004 shares of the company’s stock valued at $2,051,000 after buying an additional 4,249 shares during the period. Gulf International Bank UK Ltd increased its position in shares of Viacom by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 106,981 shares of the company’s stock valued at $4,987,000 after buying an additional 1,600 shares during the period. Finally, National Pension Service increased its position in shares of Viacom by 6.5% in the first quarter. National Pension Service now owns 318,187 shares of the company’s stock valued at $14,751,000 after buying an additional 19,285 shares during the period. 77.38% of the stock is owned by institutional investors.

Viacom Inc. (VIAB) opened at 30.07 on Friday. Viacom Inc. has a 1-year low of $29.65 and a 1-year high of $46.72. The firm’s 50-day moving average price is $34.12 and its 200 day moving average price is $39.06. The stock has a market cap of $12.09 billion, a PE ratio of 8.27 and a beta of 1.57.

Viacom (NASDAQ:VIAB) last announced its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.12. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the firm earned $1.05 EPS. Viacom’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts expect that Viacom Inc. will post $3.87 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, September 14th. Viacom’s dividend payout ratio is presently 21.98%.

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VIAB has been the subject of several analyst reports. Rosenblatt Securities reissued an “underweight” rating on shares of Viacom in a report on Friday, April 14th. Jefferies Group LLC reissued a “buy” rating and set a $52.00 price target on shares of Viacom in a report on Monday, April 17th. Pivotal Research reissued a “hold” rating and set a $40.00 price target on shares of Viacom in a report on Sunday, April 23rd. Royal Bank Of Canada reduced their price target on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating for the company in a report on Friday, May 5th. Finally, BMO Capital Markets reduced their price target on shares of Viacom from $44.00 to $42.00 and set a “market perform” rating for the company in a report on Friday, May 5th. Five analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.14.

About Viacom

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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Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

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