Viacom Inc. (NASDAQ:VIAB) Stake Reduced by First Manhattan Co.

First Manhattan Co. decreased its stake in Viacom Inc. (NASDAQ:VIAB) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,657,044 shares of the company’s stock after selling 22,513 shares during the period. First Manhattan Co. owned 0.41% of Viacom worth $55,626,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in VIAB. Thrivent Financial for Lutherans increased its position in shares of Viacom by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,272 shares of the company’s stock valued at $431,000 after buying an additional 890 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Viacom by 153.7% in the fourth quarter. Teachers Advisors LLC now owns 2,017,407 shares of the company’s stock worth $70,811,000 after buying an additional 1,222,302 shares during the last quarter. Kentucky Retirement Systems acquired a new position in shares of Viacom during the fourth quarter worth approximately $885,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Viacom during the fourth quarter worth approximately $395,000. Finally, Macquarie Group Ltd. boosted 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 worth $853,000 after buying an additional 8,691 shares during the last quarter. Institutional investors and hedge funds own 77.96% of the company’s stock.

Shares of Viacom Inc. (NASDAQ:VIAB) traded down 2.12% during mid-day trading on Friday, hitting $28.59. 6,914,942 shares of the stock traded hands. The company has a market cap of $11.50 billion, a P/E ratio of 7.87 and a beta of 1.57. Viacom Inc. has a one year low of $28.48 and a one year high of $46.72. The stock has a 50 day moving average price of $33.28 and a 200-day moving average price of $38.56.

Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.29 billion. During the same period in the previous year, the business earned $1.05 EPS. Viacom’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts forecast that Viacom Inc. will post $3.87 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.80 annualized dividend and a yield of 2.80%. Viacom’s dividend payout ratio is presently 21.98%.

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Several brokerages recently issued reports on VIAB. Royal Bank Of Canada reissued an “underperform” rating and set a $30.00 price objective (down previously from $35.00) on shares of Viacom in a research note on Wednesday, August 9th. Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 target price (down previously from $52.00) on shares of Viacom in a research note on Wednesday, August 9th. BMO Capital Markets restated a “market perform” rating and set a $35.00 price objective (down previously from $42.00) on shares of Viacom in a research report on Wednesday, August 9th. BidaskClub cut shares of Viacom from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Barclays PLC reissued a “neutral” rating on shares of Viacom in a research note on Monday, August 7th. Six equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the stock. Viacom has a consensus rating of “Hold” and an average target price of $42.04.

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.

Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

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