Vanguard Group Inc. boosted its stake in shares of Viacom Inc. (NASDAQ:VIA) by 563.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,623 shares of the company’s stock after purchasing an additional 162,744 shares during the quarter. Vanguard Group Inc.’s holdings in Viacom were worth $7,291,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Citigroup Inc. bought a new stake in shares of Viacom in the second quarter valued at approximately $195,000. Teachers Advisors LLC raised its stake in shares of Viacom by 22.1% in the second quarter. Teachers Advisors LLC now owns 15,068 shares of the company’s stock valued at $573,000 after purchasing an additional 2,723 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Viacom by 21.2% in the second quarter. Wells Fargo & Company MN now owns 38,223 shares of the company’s stock valued at $1,454,000 after purchasing an additional 6,689 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Viacom by 50.7% in the second quarter. Pinnacle Associates Ltd. now owns 7,315 shares of the company’s stock valued at $278,000 after purchasing an additional 2,460 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Viacom by 47.0% in the second quarter. Prudential Financial Inc. now owns 23,103 shares of the company’s stock valued at $879,000 after purchasing an additional 7,390 shares in the last quarter. 2.25% of the stock is owned by institutional investors.
Viacom Inc. (NASDAQ:VIA) opened at $32.70 on Monday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.30 and a current ratio of 1.55. Viacom Inc. has a 12 month low of $28.20 and a 12 month high of $49.00. The stock has a market capitalization of $10,890.00, a price-to-earnings ratio of 8.67 and a beta of 1.38.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.80 annualized dividend and a yield of 2.45%. Viacom’s dividend payout ratio is currently 17.17%.
A number of research analysts recently commented on VIA shares. UBS AG restated a “buy” rating and issued a $45.00 target price (down from $50.00) on shares of Viacom in a research note on Wednesday, August 9th. Citigroup Inc. lowered Viacom from a “neutral” rating to a “sell” rating in a research note on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Viacom presently has an average rating of “Hold” and an average target price of $39.75.
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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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