FTB Advisors Inc. lowered its stake in Viacom Inc. (NASDAQ:VIAB) by 17.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,193 shares of the company’s stock after selling 682 shares during the period. FTB Advisors Inc.’s holdings in Viacom were worth $132,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Conning Inc. boosted its stake in shares of Viacom by 0.9% in the second quarter. Conning Inc. now owns 12,147 shares of the company’s stock worth $504,000 after buying an additional 110 shares during the period. Pitcairn Co. boosted its stake in shares of Viacom by 1.0% in the second quarter. Pitcairn Co. now owns 19,717 shares of the company’s stock worth $818,000 after buying an additional 191 shares during the period. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Viacom by 1.1% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 26,610 shares of the company’s stock worth $1,103,000 after buying an additional 281 shares during the period. LS Investment Advisors LLC boosted its stake in shares of Viacom by 2.4% in the second quarter. LS Investment Advisors LLC now owns 16,178 shares of the company’s stock worth $671,000 after buying an additional 386 shares during the period. Finally, NN Investment Partners Holdings N.V. boosted its stake in shares of Viacom by 4.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 8,569 shares of the company’s stock worth $355,000 after buying an additional 400 shares during the period. 76.17% of the stock is owned by hedge funds and other institutional investors.
Shares of Viacom Inc. (NASDAQ:VIAB) traded up 0.596% on Tuesday, hitting $36.305. The company had a trading volume of 2,310,276 shares. Viacom Inc. has a 1-year low of $30.11 and a 1-year high of $53.35. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 6.988 and a beta of 1.33. The company has a 50 day moving average price of $37.42 and a 200 day moving average price of $41.00.
Viacom (NASDAQ:VIAB) last announced its earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Viacom had a return on equity of 46.74% and a net margin of 15.85%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the firm earned $1.47 earnings per share. Viacom’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts forecast that Viacom Inc. will post $3.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 22nd were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.80 annualized dividend and a yield of 2.22%. Viacom’s dividend payout ratio is currently 15.41%.
A number of brokerages have recently commented on VIAB. FBR & Co reaffirmed a “buy” rating on shares of Viacom in a research note on Monday, June 20th. Brean Capital reiterated a “hold” rating on shares of Viacom in a research report on Friday, August 5th. Vetr lowered Viacom from a “strong-buy” rating to a “sell” rating and set a $42.50 price objective for the company. in a research report on Monday, July 11th. Telsey Advisory Group decreased their price objective on Viacom from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. Finally, Wells Fargo & Co. reiterated an “underperform” rating and issued a $35.00 price objective on shares of Viacom in a research report on Thursday, September 22nd. Three equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $43.99.
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.