California Public Employees Retirement System reduced its stake in Viacom Inc. (NASDAQ:VIA) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,700 shares of the company’s stock after selling 700 shares during the period. California Public Employees Retirement System’s holdings in Viacom were worth $450,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Viacom by 11.0% in the second quarter. Bank of New York Mellon Corp now owns 91,374 shares of the company’s stock valued at $4,243,000 after buying an additional 9,084 shares during the period. Bank of Montreal Can acquired a new position in Viacom during the second quarter valued at about $340,000. Kessler Investment Group LLC acquired a new position in Viacom during the second quarter valued at about $1,220,000. S. Muoio & CO. LLC boosted its position in Viacom by 71.3% in the first quarter. S. Muoio & CO. LLC now owns 124,411 shares of the company’s stock valued at $5,636,000 after buying an additional 51,800 shares during the period. Finally, UBS Group AG boosted its position in Viacom by 77.2% in the first quarter. UBS Group AG now owns 69,180 shares of the company’s stock valued at $3,134,000 after buying an additional 30,136 shares during the period. Institutional investors own 2.18% of the company’s stock.
Shares of Viacom Inc. (NASDAQ:VIA) traded down 0.35% on Friday, hitting $42.35. 43,201 shares of the company were exchanged. The firm’s 50-day moving average is $41.27 and its 200-day moving average is $45.10. Viacom Inc. has a 52-week low of $33.88 and a 52-week high of $54.69. The stock has a market capitalization of $16.80 billion, a PE ratio of 8.15 and a beta of 1.17.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors 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 yield of 1.89%. Viacom’s dividend payout ratio is presently 15.41%.
Several equities analysts have recently weighed in on VIA shares. FBR & Co reissued an “outperform” rating and set a $59.00 price target (down from $67.00) on shares of Viacom in a report on Tuesday, July 26th. Wells Fargo & Co. cut Viacom from a “market perform” rating to an “underperform” rating in a report on Monday, July 11th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $51.00 target price (down from $53.00) on shares of Viacom in a report on Saturday, August 6th. Wedbush reaffirmed a “neutral” rating and issued a $44.00 target price (down from $46.00) on shares of Viacom in a report on Thursday, July 7th. Finally, Argus reaffirmed a “hold” rating on shares of Viacom in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the stock. Viacom has a consensus rating of “Hold” and a consensus price target of $46.94.
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.