Cigna Investments Inc. New decreased its position in Viacom Inc. (NASDAQ:VIAB) by 7.9% during the second quarter, according to its most recent disclosure with the SEC. The fund 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.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Viacom by 3,068.5% in the first quarter. BlackRock Inc. now owns 21,485,851 shares of the company’s stock worth $1,001,671,000 after buying an additional 20,807,733 shares during the period. Wellington Management Group LLP boosted its stake in shares of Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock worth $943,269,000 after buying an additional 19,603,597 shares during the period. Oldfield Partners LLP bought a new stake in shares of Viacom during the second quarter worth approximately $153,511,000. FMR LLC boosted its stake in shares of Viacom by 36.1% in the first quarter. FMR LLC now owns 9,311,109 shares of the company’s stock worth $434,084,000 after buying an additional 2,467,925 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Viacom by 304.9% in the first quarter. Alliancebernstein L.P. now owns 2,494,611 shares of the company’s stock worth $116,299,000 after buying an additional 1,878,470 shares during the period. 77.96% of the stock is owned by institutional investors and hedge funds.
Shares of Viacom Inc. (VIAB) opened at 29.82 on Thursday. The company has a market cap of $11.99 billion, a price-to-earnings ratio of 8.21 and a beta of 1.57. The company’s 50-day moving average price is $33.61 and its 200 day moving average price is $38.73. Viacom Inc. has a 12-month low of $29.65 and a 12-month high of $46.72.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. Viacom’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. Equities analysts predict that Viacom Inc. will post $3.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 2.68%. Viacom’s dividend payout ratio (DPR) is presently 21.98%.
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VIAB has been the subject of a number of analyst reports. BidaskClub cut Viacom from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised Viacom from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Thursday, July 13th. Royal Bank Of Canada decreased their price objective on Viacom from $35.00 to $30.00 and set an “underperform” rating for the company in a research note on Friday, May 5th. Pivotal Research reaffirmed a “hold” rating and set a $40.00 price objective on shares of Viacom in a research note on Sunday, April 23rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Viacom in a research note on Thursday, August 3rd. Five investment 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 stock presently 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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