Viacom, Inc. (VIAB) Holdings Reduced by State Board of Administration of Florida Retirement System

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State Board of Administration of Florida Retirement System reduced its holdings in Viacom, Inc. (NASDAQ:VIAB) by 1.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 517,560 shares of the company’s stock after selling 6,571 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Viacom were worth $17,473,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in Viacom by 3.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,966,774 shares of the company’s stock worth $59,318,000 after buying an additional 68,528 shares during the period. GAM Holding AG increased its position in Viacom by 4.9% in the 2nd quarter. GAM Holding AG now owns 146,714 shares of the company’s stock worth $4,425,000 after buying an additional 6,905 shares during the period. Janus Henderson Group PLC increased its position in Viacom by 4.1% in the 2nd quarter. Janus Henderson Group PLC now owns 89,011 shares of the company’s stock worth $2,685,000 after buying an additional 3,531 shares during the period. Tocqueville Asset Management L.P. bought a new position in Viacom in the 2nd quarter worth approximately $227,000. Finally, Macquarie Group Ltd. increased its position in Viacom by 1,808.7% in the 2nd quarter. Macquarie Group Ltd. now owns 316,844 shares of the company’s stock worth $9,555,000 after buying an additional 300,244 shares during the period. 78.97% of the stock is currently owned by institutional investors.

Viacom stock opened at $32.10 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.41 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 1.12 and a beta of 1.40. Viacom, Inc. has a 52 week low of $22.13 and a 52 week high of $35.55.

Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, August 9th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.27 billion. Viacom had a return on equity of 23.53% and a net margin of 15.65%. The business’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. Research analysts anticipate that Viacom, Inc. will post 4.1 earnings per share for the current year.

Several brokerages have commented on VIAB. ValuEngine raised Viacom from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. TheStreet upgraded Viacom from a “c+” rating to a “b-” rating in a research report on Friday, August 31st. BidaskClub upgraded Viacom from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Zacks Investment Research upgraded Viacom from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Friday, October 12th. Finally, Barrington Research restated a “hold” rating on shares of Viacom in a research report on Wednesday, August 15th. Three analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company. Viacom has an average rating of “Hold” and an average target price of $34.50.

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Viacom Company Profile

Viacom, Inc operates media brands that create entertainment content worldwide. The company creates television programs, motion pictures, short-form content, games, consumer products, podcasts, live events, and social media experiences. It operates through two segments, Media Networks and Filmed Entertainment.

See Also: Inflation

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Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

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