Strs Ohio decreased its stake in Viacom Inc. (NASDAQ:VIAB) by 49.7% during the second quarter, Holdings Channel reports. The fund owned 208,892 shares of the company’s stock after selling 206,663 shares during the period. Strs Ohio’s holdings in Viacom were worth $8,662,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in VIAB. IFP Advisors Inc boosted its stake in Viacom by 7.1% in the first quarter. IFP Advisors Inc now owns 3,964 shares of the company’s stock valued at $164,000 after buying an additional 264 shares during the last quarter. Excalibur Management Corp purchased a new stake in Viacom during the second quarter valued at $200,000. Naples Global Advisors LLC bought a new position in shares of Viacom during the second quarter valued at $215,000. Quadrature Capital Ltd bought a new position in shares of Viacom during the first quarter valued at $219,000. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Viacom during the second quarter valued at $311,000. 76.12% of the stock is owned by institutional investors and hedge funds.
Viacom Inc. (NASDAQ:VIAB) traded up 0.87% during trading on Friday, hitting $38.10. The stock had a trading volume of 8,302,775 shares. The stock’s 50-day moving average price is $39.28 and its 200-day moving average price is $41.31. Viacom Inc. has a 1-year low of $30.11 and a 1-year high of $53.35. The company has a market capitalization of $15.11 billion, a P/E ratio of 7.33 and a beta of 1.43.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The business had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.47 EPS. Analysts expect that Viacom Inc. will post $3.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, September 22nd. This represents a $0.80 annualized dividend and a yield of 2.10%. Viacom’s payout ratio is 15.41%.
Several equities analysts have weighed in on VIAB shares. Jefferies Group reaffirmed a “buy” rating on shares of Viacom in a report on Friday, June 10th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Viacom in a report on Friday, June 10th. Zacks Investment Research cut Viacom from a “hold” rating to a “sell” rating in a report on Monday, June 13th. BTIG Research raised Viacom from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Thursday, June 16th. Finally, Royal Bank Of Canada raised Viacom from an “underperform” rating to a “sector perform” rating and lifted their price objective for the company from $34.00 to $45.00 in a report on Friday, June 17th. Four research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.80.
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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