Today, Wedbush Reiterates “Outperform” Rating for Viacom Inc. (VIA)

Today, Wedbush Reiterates “Outperform” Rating for Viacom Inc. (VIA)

Viacom Inc. (NASDAQ:VIA)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a report issued on Monday. They presently have a $40.00 price target on the stock, down from their previous price target of $46.00. Wedbush’s price objective would indicate a potential downside of 0.84% from the stock’s current price.

VIA has been the subject of several other reports. FBR & Co reiterated an “outperform” rating and issued a $59.00 price target (down from $67.00) on shares of Viacom in a research note on Tuesday, July 26th. TheStreet lowered shares of Viacom from a “buy” rating to a “hold” rating in a research note on Thursday, September 22nd. Wells Fargo & Co. lowered shares of Viacom from a “market perform” rating to an “underperform” rating in a research note on Monday, July 11th. Brean Capital raised shares of Viacom from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, September 13th. Finally, Stifel Nicolaus reissued a “hold” rating on shares of Viacom in a research report on Monday, September 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Viacom has a consensus rating of “Hold” and a consensus target price of $48.67.

Shares of Viacom (NASDAQ:VIA) opened at 40.34 on Monday. The stock has a 50 day moving average of $42.17 and a 200 day moving average of $45.21. The company has a market cap of $16.00 billion, a price-to-earnings ratio of 7.77 and a beta of 1.17. Viacom has a 52-week low of $33.88 and a 52-week high of $54.69.

The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 26th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Thursday, September 22nd. Viacom’s payout ratio is 15.41%.

A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake 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 worth $4,243,000 after buying an additional 9,084 shares during the last quarter. Franklin Resources Inc. boosted its stake in Viacom by 7.7% in the first quarter. Franklin Resources Inc. now owns 5,600 shares of the company’s stock valued at $254,000 after buying an additional 400 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Viacom by 7,099.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 532,733 shares of the company’s stock valued at $22,130,000 after buying an additional 525,333 shares during the last quarter. Gabelli Securities Inc. boosted its stake in Viacom by 227.3% in the second quarter. Gabelli Securities Inc. now owns 36,000 shares of the company’s stock valued at $1,671,000 after buying an additional 25,000 shares during the last quarter. Finally, UBS Group AG boosted its stake 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 last quarter. Institutional investors own 2.18% of the company’s stock.

Viacom Company Profile

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