Brookstone Capital Management lowered its stake in shares of Viacom, Inc. (NASDAQ:VIAB) by 43.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,983 shares of the company’s stock after selling 31,968 shares during the quarter. Brookstone Capital Management’s holdings in Viacom were worth $985,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC raised its stake in Viacom by 487.9% in the second quarter. Nuveen Asset Management LLC now owns 5,170,026 shares of the company’s stock valued at $154,429,000 after buying an additional 4,290,648 shares during the last quarter. Vanguard Group Inc. grew its stake in Viacom by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 41,525,508 shares of the company’s stock worth $1,240,367,000 after purchasing an additional 1,730,488 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Viacom by 33.6% during the 2nd quarter. Prudential Financial Inc. now owns 3,560,202 shares of the company’s stock worth $106,343,000 after buying an additional 895,366 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Viacom by 808.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 919,676 shares of the company’s stock worth $22,100,000 after buying an additional 818,385 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Viacom by 24.6% during the 2nd quarter. APG Asset Management N.V. now owns 3,748,555 shares of the company’s stock worth $98,322,000 after buying an additional 739,100 shares during the last quarter. 76.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on VIAB shares. Guggenheim reaffirmed a “buy” rating on shares of Viacom in a report on Wednesday, September 4th. Deutsche Bank raised Viacom from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Sanford C. Bernstein decreased their price target on Viacom from $27.00 to $21.00 and set an “underperform” rating for the company in a report on Tuesday, September 3rd. BidaskClub downgraded Viacom from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 24th. Finally, Wells Fargo & Co started coverage on Viacom in a report on Monday, September 23rd. They set an “underperform” rating and a $23.00 price target for the company. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.13.
Viacom stock opened at $22.05 on Monday. Viacom, Inc. has a fifty-two week low of $21.75 and a fifty-two week high of $33.90. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.15 and a current ratio of 1.36. The company has a market capitalization of $9.12 billion, a P/E ratio of 5.35, a PEG ratio of 0.76 and a beta of 1.35. The stock has a 50-day simple moving average of $24.39 and a 200-day simple moving average of $28.07.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, August 8th. The company reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.14. Viacom had a return on equity of 21.71% and a net margin of 12.68%. The business had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the business earned $1.18 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Viacom, Inc. will post 4.02 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.63%. The ex-dividend date was Friday, September 13th. Viacom’s payout ratio is currently 19.42%.
Viacom Company Profile
Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.
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