Wells Fargo & Co. upgraded shares of Viacom Inc. (NASDAQ:VIA) from a market underperform rating to a market perform rating in a report published on Thursday morning.
Other analysts have also recently issued reports about the company. Loop Capital reissued a hold rating and issued a $46.00 target price on shares of Viacom in a research report on Monday, August 29th. Telsey Advisory Group reissued a market perform rating and issued a $47.00 target price (down from $51.00) on shares of Viacom in a research report on Sunday, August 28th. Stifel Nicolaus reissued a hold rating on shares of Viacom in a research report on Monday, September 19th. TheStreet cut Viacom from a buy rating to a hold rating in a research report on Thursday, September 22nd. Finally, Argus reissued a hold rating on shares of Viacom in a research report on Monday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $48.67.
Shares of Viacom (NASDAQ:VIA) traded up 0.35% during midday trading on Thursday, reaching $40.58. The company’s stock had a trading volume of 48,449 shares. The company has a market cap of $16.10 billion, a P/E ratio of 7.81 and a beta of 1.17. Viacom has a 12-month low of $33.88 and a 12-month high of $54.69. The stock’s 50-day moving average price is $42.34 and its 200-day moving average price is $45.24.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 26th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Thursday, September 22nd. Viacom’s payout ratio is currently 15.41%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Simplex Trading LLC increased its position in Viacom by 831.7% in the third quarter. Simplex Trading LLC now owns 2,348 shares of the company’s stock valued at $100,000 after buying an additional 2,096 shares during the last quarter. Panagora Asset Management Inc. bought a new position in Viacom during the second quarter valued at $111,000. BlackRock Advisors LLC bought a new position in Viacom during the second quarter valued at $225,000. First Trust Advisors LP bought a new position in Viacom during the second quarter valued at $226,000. Finally, Alliancebernstein L.P. bought a new position in Viacom during the second quarter valued at $227,000. 2.18% of the stock is owned by hedge funds and other institutional investors.