Viacom Inc. (VIA) Stock Rating Upgraded by Wells Fargo & Co.
Viacom Inc. (NASDAQ:VIA) was upgraded by stock analysts at Wells Fargo & Co. from a “market underperform” rating to a “market perform” rating in a research note issued to investors on Thursday.
Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a $45.00 price target (up from $34.00) on shares of Viacom in a report on Friday, June 17th. Wunderlich reiterated a “buy” rating and set a $87.00 price target on shares of Viacom in a report on Friday, June 17th. Brean Capital assumed coverage on Viacom in a report on Thursday, July 7th. They set a “hold” rating for the company. Telsey Advisory Group reissued an “outperform” rating and set a $51.00 target price (down previously from $53.00) on shares of Viacom in a research note on Saturday, August 6th. Finally, Bank of America Corp. raised Viacom from an “underperform” rating to a “buy” rating and increased their target price for the stock from $37.00 to $44.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.67.
Viacom (NASDAQ:VIA) opened at 40.34 on Thursday. Viacom has a 12 month low of $33.88 and a 12 month high of $54.69. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 7.77 and a beta of 1.17. The company’s 50-day moving average price is $42.17 and its 200 day moving average price is $45.21.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 26th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. Viacom’s dividend payout ratio is presently 15.41%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Simplex Trading LLC increased its position in Viacom by 831.7% in the third quarter. Simplex Trading LLC now owns 2,348 shares of the company’s stock worth $100,000 after buying an additional 2,096 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in Viacom during the second quarter worth about $111,000. BlackRock Advisors LLC purchased a new position in Viacom during the second quarter worth about $225,000. First Trust Advisors LP purchased a new position in Viacom during the second quarter worth about $226,000. Finally, Alliancebernstein L.P. purchased a new position in Viacom during the second quarter worth about $227,000. Hedge funds and other institutional investors own 2.18% of the company’s stock.
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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