Traders Purchase Large Volume of Viacom Put Options (VIAB)
Viacom, Inc. (NASDAQ:VIAB) was the recipient of unusually large options trading on Monday. Stock traders purchased 6,181 put options on the company. This represents an increase of 1,505% compared to the average volume of 385 put options.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Viacom by 15.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,202 shares of the company’s stock worth $103,000 after buying an additional 300 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after buying an additional 225 shares in the last quarter. First Personal Financial Services raised its position in shares of Viacom by 998.2% in the first quarter. First Personal Financial Services now owns 3,086 shares of the company’s stock worth $144,000 after buying an additional 2,805 shares in the last quarter. Whittier Trust Co. raised its position in shares of Viacom by 80.6% in the first quarter. Whittier Trust Co. now owns 3,192 shares of the company’s stock worth $149,000 after buying an additional 1,425 shares in the last quarter. Finally, First Mercantile Trust Co. raised its position in shares of Viacom by 56.9% in the first quarter. First Mercantile Trust Co. now owns 3,374 shares of the company’s stock worth $157,000 after buying an additional 1,223 shares in the last quarter. 76.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on VIAB shares. Royal Bank of Canada set a $35.00 price target on Viacom and gave the stock a “sell” rating in a research note on Friday, February 3rd. Wedbush raised their price target on Viacom from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, February 6th. Wells Fargo & Co upgraded Viacom from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $39.00 to $49.00 in a research note on Thursday, February 9th. Barrington Research upgraded Viacom from a “market perform” rating to an “outperform” rating and set a $55.00 price target on the stock in a research note on Thursday, February 9th. Finally, Drexel Hamilton upgraded Viacom from a “hold” rating to a “buy” rating in a research note on Thursday, February 9th. Five equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $43.95.
Shares of Viacom (NASDAQ:VIAB) traded down 0.45% during midday trading on Monday, hitting $35.04. The stock had a trading volume of 2,768,604 shares. The firm has a 50 day moving average price of $40.89 and a 200-day moving average price of $40.17. The stock has a market cap of $14.08 billion, a PE ratio of 11.58 and a beta of 1.33. Viacom has a 52-week low of $33.44 and a 52-week high of $46.72.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.20. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.03 billion. Viacom had a net margin of 10.94% and a return on equity of 33.25%. Viacom’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $0.76 EPS. Equities analysts predict that Viacom will post $3.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, June 13th. Viacom’s dividend payout ratio is presently 22.92%.
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Viacom Company Profile
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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