Pacific Heights Asset Management LLC Has $7,427,000 Stake in Viacom Inc. (VIA)
Pacific Heights Asset Management LLC continued to hold its stake in shares of Viacom Inc. (NASDAQ:VIA) during the second quarter, Holdings Channel reports. The institutional investor owned 160,000 shares of the company’s stock at the end of the second quarter. Pacific Heights Asset Management LLC’s holdings in Viacom were worth $7,427,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. S. Muoio & CO. LLC raised its stake in Viacom by 71.3% in the first quarter. S. Muoio & CO. LLC now owns 124,411 shares of the company’s stock worth $5,636,000 after buying an additional 51,800 shares during the last quarter. UBS Group AG raised its stake in Viacom by 77.2% in the first quarter. UBS Group AG now owns 69,180 shares of the company’s stock worth $3,134,000 after buying an additional 30,136 shares during the last quarter. State Street Corp raised its stake in Viacom by 8.2% in the first quarter. State Street Corp now owns 40,702 shares of the company’s stock worth $1,845,000 after buying an additional 3,094 shares during the last quarter. Geode Capital Management LLC raised its stake in Viacom by 13.6% in the first quarter. Geode Capital Management LLC now owns 26,672 shares of the company’s stock worth $1,208,000 after buying an additional 3,199 shares during the last quarter. Finally, Kessler Investment Group LLC purchased a new stake in Viacom during the second quarter worth $1,220,000. Institutional investors own 2.18% of the company’s stock.
Shares of Viacom Inc. (NASDAQ:VIA) traded down 0.02% during midday trading on Tuesday, hitting $42.49. The company had a trading volume of 47,785 shares. The company has a market cap of $16.85 billion, a price-to-earnings ratio of 8.18 and a beta of 1.17. The stock’s 50-day moving average price is $43.82 and its 200-day moving average price is $45.47. Viacom Inc. has a 12 month low of $33.88 and a 12 month high of $54.69.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 26th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.80 annualized dividend and a dividend yield of 1.88%. Viacom’s payout ratio is currently 15.41%.
A number of analysts recently weighed in on VIA shares. Brean Capital upgraded shares of Viacom from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, September 13th. Wunderlich restated a “buy” rating and set a $87.00 target price on shares of Viacom in a research note on Friday, June 17th. BTIG Research upgraded shares of Viacom from a “neutral” rating to a “buy” rating in a research note on Thursday, June 16th. Drexel Hamilton restated a “hold” rating on shares of Viacom in a research note on Friday, June 17th. Finally, Argus reaffirmed a “hold” rating on shares of Viacom in a report on Monday, August 15th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Viacom has an average rating of “Hold” and a consensus target price of $48.78.
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.
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