Cigna Investments Inc. New reduced its stake in Viacom Inc. (NASDAQ:VIAB) by 7.9% during the second quarter, Holdings Channel reports. The firm owned 13,385 shares of the company’s stock after selling 1,153 shares during the period. Cigna Investments Inc. New’s holdings in Viacom were worth $452,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LMR Partners LLP bought a new position in shares of Viacom during the first quarter valued at about $874,000. Wetherby Asset Management Inc. raised its position in shares of Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock valued at $335,000 after buying an additional 53 shares during the period. Stuyvesant Capital Management raised its position in shares of Viacom by 7.7% in the first quarter. Stuyvesant Capital Management now owns 68,050 shares of the company’s stock valued at $3,172,000 after buying an additional 4,850 shares during the period. Geode Capital Management LLC raised its position in shares of Viacom by 9.5% in the first quarter. Geode Capital Management LLC now owns 3,518,736 shares of the company’s stock valued at $163,819,000 after buying an additional 306,346 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Viacom by 7.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,434,293 shares of the company’s stock valued at $66,867,000 after buying an additional 101,737 shares during the period. Institutional investors own 77.96% of the company’s stock.
Shares of Viacom Inc. (NASDAQ VIAB) opened at 29.82 on Thursday. Viacom Inc. has a one year low of $29.65 and a one year high of $46.72. The stock has a market cap of $11.99 billion, a PE ratio of 8.21 and a beta of 1.57. The firm has a 50-day moving average of $33.61 and a 200-day moving average of $38.73.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.05 by $0.12. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts expect that Viacom Inc. will post $3.87 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.68%. Viacom’s dividend payout ratio is currently 21.98%.
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Several analysts have weighed in on the stock. UBS AG lowered their price target on shares of Viacom from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target on shares of Viacom in a research note on Thursday, August 3rd. Deutsche Bank AG downgraded shares of Viacom from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Royal Bank Of Canada lowered their price target on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating for the company in a research note on Friday, May 5th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Viacom in a research note on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $42.14.
Viacom Company Profile
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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