Retirement Systems of Alabama Sells 4,195 Shares of Viacom Inc. (VIAB)
Retirement Systems of Alabama decreased its stake in shares of Viacom Inc. (NASDAQ:VIAB) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 282,812 shares of the company’s stock after selling 4,195 shares during the period. Retirement Systems of Alabama’s holdings in Viacom were worth $11,728,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of VIAB. Royal Bank of Canada boosted its position in Viacom by 104.1% in the first quarter. Royal Bank of Canada now owns 1,074,641 shares of the company’s stock valued at $44,362,000 after buying an additional 548,080 shares in the last quarter. Legal & General Group Plc boosted its position in Viacom by 2.8% in the first quarter. Legal & General Group Plc now owns 1,555,673 shares of the company’s stock valued at $64,209,000 after buying an additional 42,350 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Viacom by 120.5% in the first quarter. Nuveen Asset Management LLC now owns 728,866 shares of the company’s stock valued at $30,087,000 after buying an additional 398,300 shares in the last quarter. PGGM Investments boosted its position in Viacom by 336.8% in the second quarter. PGGM Investments now owns 1,004,717 shares of the company’s stock valued at $41,666,000 after buying an additional 774,693 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Viacom by 0.5% in the first quarter. Geode Capital Management LLC now owns 2,908,135 shares of the company’s stock valued at $119,812,000 after buying an additional 14,321 shares in the last quarter. Institutional investors and hedge funds own 76.12% of the company’s stock.
Shares of Viacom Inc. (NASDAQ:VIAB) traded down 0.29% during trading on Tuesday, reaching $37.58. 4,974,582 shares of the company’s stock were exchanged. Viacom Inc. has a 52-week low of $30.11 and a 52-week high of $53.35. The stock’s 50 day moving average price is $38.98 and its 200-day moving average price is $41.28. The stock has a market cap of $14.91 billion, a PE ratio of 7.23 and a beta of 1.33.
Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.01 billion. Viacom had a net margin of 15.85% and a return on equity of 46.74%. Viacom’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 earnings per share. On average, equities research analysts forecast that Viacom Inc. will post $3.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 22nd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.13%. The ex-dividend date was Thursday, September 22nd. Viacom’s dividend payout ratio is presently 15.41%.
VIAB has been the subject of a number of recent research reports. Brean Capital reiterated a “hold” rating on shares of Viacom in a report on Thursday, September 8th. Telsey Advisory Group cut shares of Viacom from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $51.00 to $47.00 in a report on Friday, August 26th. FBR & Co reiterated an “outperform” rating and issued a $57.00 price objective on shares of Viacom in a report on Tuesday, August 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 price objective on shares of Viacom in a report on Wednesday, September 7th. Finally, Wedbush decreased their price objective on shares of Viacom from $44.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, September 27th. Four analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $43.80.
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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