Pinnacle Associates Ltd. increased its holdings in Viacom Inc. (NASDAQ:VIA) by 50.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,315 shares of the company’s stock after purchasing an additional 2,460 shares during the period. Pinnacle Associates Ltd.’s holdings in Viacom were worth $278,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. UBS Group AG raised its position in Viacom by 0.5% in the first quarter. UBS Group AG now owns 40,763 shares of the company’s stock worth $1,988,000 after purchasing an additional 193 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Viacom by 4.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 9,804 shares of the company’s stock worth $478,000 after purchasing an additional 448 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Viacom by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 64,855 shares of the company’s stock worth $3,161,000 after purchasing an additional 962 shares in the last quarter. Teachers Advisors LLC raised its position in Viacom by 9.9% in the fourth quarter. Teachers Advisors LLC now owns 12,345 shares of the company’s stock worth $475,000 after purchasing an additional 1,115 shares in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Viacom by 12.0% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 11,200 shares of the company’s stock worth $426,000 after purchasing an additional 1,200 shares in the last quarter. 2.28% of the stock is owned by hedge funds and other institutional investors.
Shares of Viacom Inc. (VIA) opened at 37.35 on Monday. The stock’s 50 day moving average is $39.13 and its 200 day moving average is $41.41. The firm has a market cap of $15.02 billion, a price-to-earnings ratio of 10.28 and a beta of 1.46. Viacom Inc. has a 12-month low of $36.25 and a 12-month high of $49.00.
Viacom (NASDAQ:VIA) last issued its 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. The company had revenue of $3.36 billion during the quarter. Viacom had a net margin of 11.04% and a return on equity of 30.89%. Equities analysts expect that Viacom Inc. will post $3.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 14th. Viacom’s payout ratio is presently 21.98%.
VIA has been the subject of several recent research reports. UBS AG reissued a “buy” rating and issued a $45.00 price target (down previously from $50.00) on shares of Viacom in a research report on Wednesday, August 9th. Barrington Research reissued an “outperform” rating on shares of Viacom in a research report on Friday, May 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $43.22.
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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