Nuveen Asset Management LLC lowered its stake in Viacom Inc. (NASDAQ:VIAB) by 65.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,840 shares of the company’s stock after selling 34,279 shares during the period. Nuveen Asset Management LLC’s holdings in Viacom were worth $832,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in Viacom by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,272 shares of the company’s stock worth $431,000 after buying an additional 890 shares during the period. Teachers Advisors LLC boosted its stake in shares of Viacom by 153.7% in the fourth quarter. Teachers Advisors LLC now owns 2,017,407 shares of the company’s stock worth $70,811,000 after buying an additional 1,222,302 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Viacom during the fourth quarter worth approximately $885,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Viacom during the fourth quarter worth approximately $395,000. Finally, Macquarie Group Ltd. boosted its stake in Viacom by 55.6% in the fourth quarter. Macquarie Group Ltd. now owns 24,325 shares of the company’s stock worth $853,000 after buying an additional 8,691 shares in the last quarter. 77.38% of the stock is owned by institutional investors and hedge funds.
Shares of Viacom Inc. (NASDAQ VIAB) opened at 30.66 on Friday. Viacom Inc. has a 12-month low of $29.65 and a 12-month high of $46.72. The stock has a market capitalization of $12.33 billion, a P/E ratio of 8.44 and a beta of 1.57. The firm’s 50-day moving average is $34.02 and its 200 day moving average is $38.99.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.05 by $0.12. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the company earned $1.05 earnings per share. Viacom’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Viacom Inc. will post $3.87 EPS for the current fiscal 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. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.61%. Viacom’s dividend payout ratio (DPR) is presently 21.98%.
Several analysts have weighed in on the stock. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $48.00 price objective on shares of Viacom in a research note on Monday, June 12th. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 target price on shares of Viacom in a report on Monday, April 17th. BidaskClub lowered shares of Viacom from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 5th. Sanford C. Bernstein reissued an “underperform” rating and issued a $29.00 target price on shares of Viacom in a report on Friday, June 16th. Finally, Royal Bank Of Canada decreased their target price on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a report on Monday, May 15th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target 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.
Receive News & Ratings for Viacom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viacom Inc. and related companies with MarketBeat.com's FREE daily email newsletter.