Viacom, Inc. (VIAB) Position Reduced by American International Group Inc.

American International Group Inc. lessened its position in Viacom, Inc. (NASDAQ:VIAB) by 11.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,758 shares of the company’s stock after selling 19,651 shares during the quarter. American International Group Inc.’s holdings in Viacom were worth $4,197,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VIAB. Municipal Employees Retirement System of Michigan raised its holdings in Viacom by 23.8% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,920 shares of the company’s stock worth $601,000 after acquiring an additional 3,440 shares during the period. CIBC Asset Management Inc raised its holdings in Viacom by 3.6% in the 2nd quarter. CIBC Asset Management Inc now owns 46,704 shares of the company’s stock worth $1,568,000 after acquiring an additional 1,630 shares during the period. Ingalls & Snyder LLC raised its holdings in Viacom by 23.5% in the 2nd quarter. Ingalls & Snyder LLC now owns 6,312 shares of the company’s stock worth $212,000 after acquiring an additional 1,202 shares during the period. Retirement Systems of Alabama raised its holdings in Viacom by 13.2% in the 2nd quarter. Retirement Systems of Alabama now owns 311,854 shares of the company’s stock worth $10,469,000 after acquiring an additional 36,342 shares during the period. Finally, Beach Investment Management LLC. bought a new position in Viacom in the 2nd quarter worth $272,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Shares of Viacom, Inc. (NASDAQ:VIAB) opened at $28.94 on Thursday. Viacom, Inc. has a 12 month low of $22.13 and a 12 month high of $46.72. The company has a quick ratio of 1.30, a current ratio of 1.55 and a debt-to-equity ratio of 1.81. The company has a market cap of $11,641.32, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 1.02 and a beta of 1.60.

Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, November 16th. The company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.09). Viacom had a net margin of 14.13% and a return on equity of 28.95%. The firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the company posted $1.54 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. equities research analysts forecast that Viacom, Inc. will post 3.78 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, December 14th. Viacom’s payout ratio is presently 17.13%.

VIAB has been the topic of several research reports. Piper Jaffray Companies restated a “hold” rating and set a $40.00 price objective on shares of Viacom in a report on Tuesday, September 26th. Wells Fargo & Company cut shares of Viacom from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 5th. Jefferies Group reissued 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. Loop Capital lowered their target price on shares of Viacom from $32.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, November 17th. Finally, KeyCorp reissued a “hold” rating on shares of Viacom in a research note on Friday, November 24th. Six equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $36.62.

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Viacom 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.

Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

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