Viacom Inc. (VIA) Raised to “Market Perform” at Wells Fargo & Co.
Viacom Inc. (NASDAQ:VIA) was upgraded by equities research analysts at Wells Fargo & Co. from a “market underperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday.
Several other research firms have also recently commented on VIA. FBR & Co restated an “outperform” rating and set a $59.00 price target (down previously from $67.00) on shares of Viacom in a research note on Tuesday, July 26th. Drexel Hamilton restated a “hold” rating on shares of Viacom in a research note on Friday, June 17th. Royal Bank Of Canada restated a “sector perform” rating and set a $45.00 price target (up previously from $34.00) on shares of Viacom in a research note on Friday, June 17th. Wunderlich reiterated a “buy” rating and issued a $87.00 price objective on shares of Viacom in a research report on Friday, June 17th. Finally, BTIG Research upgraded Viacom from a “neutral” rating to a “buy” rating in a research report on Thursday, June 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $48.67.
Shares of Viacom (NASDAQ:VIA) traded up 2.25% during midday trading on Thursday, reaching $40.44. 114,672 shares of the company’s stock traded hands. Viacom has a 52 week low of $33.88 and a 52 week high of $54.69. The company has a market capitalization of $16.04 billion, a PE ratio of 7.78 and a beta of 1.17. The stock’s 50 day moving average is $42.34 and its 200-day moving average is $45.24.
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The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, September 22nd. Viacom’s payout ratio is 15.41%.
A number of hedge funds have recently modified their holdings of VIA. Simplex Trading LLC raised its stake in shares of Viacom by 831.7% in the third quarter. Simplex Trading LLC now owns 2,348 shares of the company’s stock worth $100,000 after buying an additional 2,096 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Viacom during the second quarter worth about $111,000. BlackRock Advisors LLC purchased a new position in Viacom during the second quarter valued at $225,000. First Trust Advisors LP purchased a new position in Viacom during the second quarter valued at $226,000. Finally, Alliancebernstein L.P. purchased a new position in Viacom during the second quarter valued at $227,000. 2.18% of the stock is currently owned by hedge funds and other 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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