Wedbush Reaffirms “Outperform” Rating for Viacom Inc. (VIA)
Viacom Inc. (NASDAQ:VIA)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a note issued to investors on Monday. They presently have a $40.00 target price on the stock, down from their prior target price of $46.00. Wedbush’s price objective would suggest a potential downside of 0.84% from the stock’s previous close.
Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Co. upgraded shares of Viacom from a “market underperform” rating to a “market perform” rating in a research note on Thursday. Bank of America Corp. upgraded shares of Viacom from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $44.00 in a research note on Thursday. TheStreet cut shares of Viacom from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Stifel Nicolaus reiterated a “hold” rating on shares of Viacom in a research note on Monday, September 19th. Finally, Brean Capital upgraded shares of Viacom from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Tuesday, September 13th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $48.67.
Shares of Viacom (NASDAQ:VIA) traded up 1.02% during midday trading on Monday, reaching $40.75. 44,404 shares of the company’s stock traded hands. The firm has a market capitalization of $16.16 billion, a PE ratio of 7.84 and a beta of 1.17. The stock’s 50-day moving average price is $42.17 and its 200 day moving average price is $45.21. Viacom has a one year low of $33.88 and a one year high of $54.69.
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The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 26th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.98%. Viacom’s dividend payout ratio is currently 15.41%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased 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 in the last quarter. FMR LLC increased its stake in shares of Viacom by 12.5% in the second quarter. FMR LLC now owns 450,000 shares of the company’s stock worth $20,889,000 after buying an additional 50,000 shares in the last quarter. SkyBridge Capital II LLC bought a new stake in shares of Viacom during the second quarter worth about $13,776,000. S. Muoio & CO. LLC increased its stake in shares of Viacom by 71.3% in the first quarter. S. Muoio & CO. LLC now owns 124,411 shares of the company’s stock worth $5,636,000 after buying an additional 51,800 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Viacom by 93.8% in the second quarter. BlackRock Fund Advisors now owns 95,299 shares of the company’s stock worth $4,424,000 after buying an additional 46,122 shares in the last quarter. Hedge funds and other institutional investors own 2.18% of the company’s stock.
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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