Viacom Inc. (VIA) Rating Increased to Buy at Bank of America Corp.
Viacom Inc. (NASDAQ:VIA) was upgraded by stock analysts at Bank of America Corp. from an “underperform” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $44.00 price target on the stock, up from their prior price target of $37.00. Bank of America Corp.’s price target points to a potential upside of 11.25% from the stock’s current price.
A number of other research analysts have also recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and issued a $40.00 price objective (down previously from $44.00) on shares of Viacom in a report on Tuesday, September 27th. TheStreet cut shares of Viacom from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Stifel Nicolaus reissued a “hold” rating on shares of Viacom in a research note on Monday, September 19th. Brean Capital raised shares of Viacom from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, September 13th. Finally, Loop Capital reissued a “hold” rating and set a $46.00 target price on shares of Viacom in a research note on Monday, August 29th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company. Viacom presently has an average rating of “Hold” and a consensus target price of $48.67.
Shares of Viacom (NASDAQ:VIA) opened at 39.55 on Thursday. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of 7.61 and a beta of 1.17. The company has a 50-day moving average of $42.51 and a 200-day moving average of $45.27. Viacom has a 52-week low of $33.88 and a 52-week high of $54.69.
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The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 26th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.80 annualized dividend and a yield of 2.02%. Viacom’s payout ratio is 15.41%.
Institutional investors have recently bought and sold shares of the stock. Simplex Trading LLC raised its position in Viacom by 831.7% in the third quarter. Simplex Trading LLC now owns 2,348 shares of the company’s stock valued at $100,000 after buying an additional 2,096 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in Viacom during the second quarter valued at $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. Institutional investors own 2.18% of the company’s stock.
Viacom Company Profile
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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