Trading Report: Today, Chevy Chase Trust Holdings Inc. Cuts Position in Viacom Inc. (VIAB)

Today, Chevy Chase Trust Holdings Inc. Cuts Position in Viacom Inc. (VIAB)

Chevy Chase Trust Holdings Inc. reduced its stake in shares of Viacom Inc. (NASDAQ:VIAB) by 2.5% during the third quarter, Holdings Channel reports. The institutional investor owned 291,687 shares of the company’s stock after selling 7,570 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Viacom were worth $11,114,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Pinkerton Retirement Specialists LLC bought a new stake in Viacom during the second quarter valued at approximately $131,000. First Mercantile Trust Co. bought a new stake in Viacom during the second quarter valued at approximately $135,000. Hussman Strategic Advisors Inc. bought a new stake in Viacom during the second quarter valued at approximately $137,000. Smithfield Trust Co. bought a new stake in Viacom during the second quarter valued at approximately $141,000. Finally, Mizuho Asset Management Co. Ltd. boosted its stake in Viacom by 90.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,738 shares of the company’s stock valued at $196,000 after buying an additional 2,247 shares in the last quarter. 75.62% of the stock is owned by hedge funds and other institutional investors.

Shares of Viacom Inc. (NASDAQ:VIAB) traded up 1.05% during midday trading on Friday, hitting $37.64. The stock had a trading volume of 1,324,504 shares. Viacom Inc. has a one year low of $30.11 and a one year high of $51.36. The firm has a 50 day moving average of $37.15 and a 200-day moving average of $40.43. The company has a market cap of $14.94 billion, a P/E ratio of 10.41 and a beta of 1.32.

Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. Viacom had a net margin of 11.52% and a return on equity of 36.21%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the company posted $1.54 earnings per share. The company’s quarterly revenue was down 14.8% compared to the same quarter last year. On average, analysts forecast that Viacom Inc. will post $3.80 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Thursday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, December 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.13%. Viacom’s payout ratio is 22.10%.

VIAB has been the subject of several recent research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $50.00 price target on shares of Viacom in a report on Friday, August 5th. Jefferies Group reissued a “buy” rating on shares of Viacom in a research note on Thursday, August 11th. Stifel Nicolaus reissued a “buy” rating and set a $49.00 target price on shares of Viacom in a research note on Wednesday, September 7th. Brean Capital raised Viacom from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, September 13th. Finally, Wunderlich cut their target price on Viacom from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, September 21st. Two equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and ten have issued a buy rating to the company. Viacom currently has an average rating of “Hold” and a consensus price target of $43.18.

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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