King Luther Capital Management Corp reduced its stake in shares of Viacom, Inc. (NASDAQ:VIAB) by 18.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 174,188 shares of the company’s stock after selling 40,710 shares during the period. King Luther Capital Management Corp’s holdings in Viacom were worth $5,881,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Aperio Group LLC boosted its stake in Viacom by 18.7% during the 2nd quarter. Aperio Group LLC now owns 320,317 shares of the company’s stock valued at $9,661,000 after purchasing an additional 50,505 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Viacom by 10.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,179,135 shares of the company’s stock valued at $35,563,000 after purchasing an additional 106,763 shares during the last quarter. Lingohr & Partner Asset Management GmbH boosted its stake in Viacom by 271.2% during the 2nd quarter. Lingohr & Partner Asset Management GmbH now owns 49,000 shares of the company’s stock valued at $1,478,000 after purchasing an additional 35,800 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Viacom by 11.7% during the 2nd quarter. Victory Capital Management Inc. now owns 55,791 shares of the company’s stock valued at $1,683,000 after purchasing an additional 5,827 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new position in Viacom during the 2nd quarter valued at about $8,962,000. Institutional investors own 69.49% of the company’s stock.
Viacom stock opened at $29.91 on Friday. Viacom, Inc. has a 52 week low of $26.56 and a 52 week high of $35.55. The company has a current ratio of 1.50, a quick ratio of 1.28 and a debt-to-equity ratio of 1.27. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 7.28, a PEG ratio of 1.06 and a beta of 1.42.
Viacom (NASDAQ:VIAB) last posted its earnings results on Friday, November 16th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.04. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Viacom had a net margin of 13.28% and a return on equity of 23.68%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 EPS. As a group, sell-side analysts expect that Viacom, Inc. will post 4.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.67%. Viacom’s dividend payout ratio (DPR) is presently 19.42%.
A number of equities analysts have issued reports on VIAB shares. ValuEngine downgraded Viacom from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Goldman Sachs Group started coverage on Viacom in a research note on Thursday, November 29th. They set a “neutral” rating and a $34.00 price target for the company. BidaskClub downgraded Viacom from a “hold” rating to a “sell” rating in a research note on Thursday, August 30th. B. Riley upgraded Viacom from a “neutral” rating to a “buy” rating and lifted their price target for the company from $34.00 to $39.00 in a research note on Wednesday, September 26th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $34.00 target price on shares of Viacom in a research report on Monday, October 15th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have assigned a buy rating to the company. Viacom currently has a consensus rating of “Hold” and an average price target of $34.15.
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Viacom, Inc operates media brands that create entertainment content worldwide. The company creates television programs, motion pictures, short-form content, games, consumer products, podcasts, live events, and social media experiences. It operates through two segments, Media Networks and Filmed Entertainment.
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