Viacom Inc. (VIA) Upgraded at Wells Fargo & Co.
Viacom Inc. (NASDAQ:VIA) was upgraded by investment analysts at Wells Fargo & Co. from a “market underperform” rating to a “market perform” rating in a report issued on Thursday.
A number of other research analysts have also commented on the company. Bank of America Corp. raised Viacom from an “underperform” rating to a “buy” rating and raised their price target for the company from $37.00 to $44.00 in a report on Thursday. Wedbush reissued a “neutral” rating and set a $40.00 price target (down from $44.00) on shares of Viacom in a report on Tuesday, September 27th. TheStreet lowered Viacom from a “buy” rating to a “hold” rating in a report on Thursday, September 22nd. Stifel Nicolaus reissued a “hold” rating on shares of Viacom in a report on Monday, September 19th. Finally, Brean Capital raised Viacom from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, September 13th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $48.67.
Shares of Viacom (NASDAQ:VIA) traded up 1.075% on Thursday, reaching $39.975. 19,488 shares of the company 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 $15.86 billion, a PE ratio of 7.695 and a beta of 1.17. The firm has a 50-day moving average of $42.52 and a 200-day moving average of $45.27.
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The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 26th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 2.02%. Viacom’s payout ratio is presently 15.41%.
Large investors have recently made changes to their positions in the company. SkyBridge Capital II LLC acquired a new stake in shares of Viacom during the second quarter worth approximately $13,776,000. First Trust Advisors LP acquired a new stake in shares of Viacom during the second quarter worth approximately $226,000. State Board of Administration of Florida Retirement System raised its stake in shares of Viacom by 7,099.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 532,733 shares of the company’s stock worth $22,130,000 after buying an additional 525,333 shares during the last quarter. Gabelli Securities Inc. raised its stake in shares of Viacom by 227.3% in the second quarter. Gabelli Securities Inc. now owns 36,000 shares of the company’s stock worth $1,671,000 after buying an additional 25,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Viacom by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 91,374 shares of the company’s stock worth $4,243,000 after buying an additional 9,084 shares during the last quarter. Hedge funds and other 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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