State of Tennessee Treasury Department increased its stake in shares of Viacom, Inc. (NASDAQ:VIAB) by 5.6% in the 1st quarter, HoldingsChannel reports. The firm owned 136,660 shares of the company’s stock after purchasing an additional 7,304 shares during the period. State of Tennessee Treasury Department’s holdings in Viacom were worth $3,836,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Securian Asset Management Inc boosted its stake in Viacom by 1.1% in the first quarter. Securian Asset Management Inc now owns 36,056 shares of the company’s stock valued at $1,012,000 after acquiring an additional 395 shares during the period. Crossmark Global Holdings Inc. increased its stake in Viacom by 2.1% in the 1st quarter. Crossmark Global Holdings Inc. now owns 20,797 shares of the company’s stock valued at $584,000 after buying an additional 430 shares during the last quarter. Valley National Advisers Inc. increased its stake in Viacom by 66.4% in the 4th quarter. Valley National Advisers Inc. now owns 1,118 shares of the company’s stock valued at $29,000 after buying an additional 446 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Viacom by 0.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 53,737 shares of the company’s stock valued at $1,508,000 after buying an additional 472 shares during the last quarter. Finally, LS Investment Advisors LLC increased its stake in Viacom by 2.6% in the 1st quarter. LS Investment Advisors LLC now owns 20,767 shares of the company’s stock valued at $583,000 after buying an additional 517 shares during the last quarter. 80.01% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on VIAB. ValuEngine upgraded shares of Viacom from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. TheStreet upgraded shares of Viacom from a “c+” rating to a “b-” rating in a research note on Friday, April 26th. BidaskClub upgraded shares of Viacom from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 1st. Royal Bank of Canada raised shares of Viacom from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $31.00 to $36.00 in a research report on Thursday, April 4th. Finally, Loop Capital raised shares of Viacom from a “hold” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $35.00 in a research report on Friday, March 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $34.47.
Viacom (NASDAQ:VIAB) last announced its earnings results on Friday, May 10th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.80 by $0.15. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.06 billion. Viacom had a net margin of 12.63% and a return on equity of 22.60%. Viacom’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 EPS. On average, research analysts forecast that Viacom, Inc. will post 3.98 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, June 14th. Viacom’s payout ratio is 19.42%.
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Viacom Company Profile
Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.
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