Viacom Inc. (VIAB) Sees Large Volume Increase After Dividend Announcement
Viacom Inc. (NASDAQ:VIAB) saw an uptick in trading volume on Wednesday after the company announced a dividend. 5,281,609 shares traded hands during trading, an increase of 38% from the previous session’s volume of 3,825,589 shares.The stock last traded at $35.66 and had previously closed at $36.16.
The newly announced dividend which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, September 22nd. Viacom’s dividend payout ratio (DPR) is currently 30.83%.
A number of brokerages have issued reports on VIAB. Royal Bank Of Canada restated a “sell” rating on shares of Viacom in a report on Tuesday, May 31st. Vetr lowered Viacom from a “sell” rating to a “strong sell” rating and set a $39.00 price target on the stock. in a research report on Monday, May 30th. FBR & Co reaffirmed a “buy” rating on shares of Viacom in a research report on Monday, June 20th. Brean Capital reaffirmed a “hold” rating on shares of Viacom in a research report on Friday, August 5th. Finally, Zacks Investment Research lowered Viacom from a “hold” rating to a “sell” rating in a research report on Monday, June 13th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $45.76.
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The firm has a market capitalization of $14.18 billion, a P/E ratio of 6.88 and a beta of 1.43. The company has a 50-day moving average price of $40.82 and a 200-day moving average price of $41.51.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.04. The company earned $3.11 billion during the quarter, compared to the consensus estimate of $3.01 billion. Viacom had a return on equity of 46.74% and a net margin of 15.85%. Viacom’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business posted $1.47 earnings per share. Equities analysts expect that Viacom Inc. will post $3.91 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of VIAB. Capital World Investors increased its stake in shares of Viacom by 19.3% in the second quarter. Capital World Investors now owns 16,729,443 shares of the company’s stock worth $693,770,000 after buying an additional 2,710,443 shares during the last quarter. BlackRock Fund Advisors raised its stake in Viacom by 42.7% in the second quarter. BlackRock Fund Advisors now owns 5,362,157 shares of the company’s stock valued at $222,369,000 after buying an additional 1,604,976 shares in the last quarter. AXA raised its stake in Viacom by 380.4% in the first quarter. AXA now owns 1,969,784 shares of the company’s stock valued at $81,312,000 after buying an additional 1,559,774 shares in the last quarter. Capital Research Global Investors raised its stake in Viacom by 2.7% in the second quarter. Capital Research Global Investors now owns 42,454,768 shares of the company’s stock valued at $1,760,599,000 after buying an additional 1,118,815 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Viacom by 4.9% in the second quarter. Vanguard Group Inc. now owns 21,469,806 shares of the company’s stock valued at $890,352,000 after buying an additional 1,007,008 shares in the last quarter. 76.12% of the stock is owned by institutional investors.
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
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