Viacom Inc. (NASDAQ:VIAB) Stake Held by Meyer Handelman Co.
Meyer Handelman Co. maintained its position in shares of Viacom Inc. (NASDAQ:VIAB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,625 shares of the company’s stock at the end of the second quarter. Meyer Handelman Co.’s holdings in Viacom were worth $1,834,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of VIAB. State Treasurer State of Michigan increased its position in shares of Viacom by 1.5% in the second quarter. State Treasurer State of Michigan now owns 115,804 shares of the company’s stock valued at $3,888,000 after buying an additional 1,700 shares in the last quarter. Exane Asset Management bought a new position in shares of Viacom during the second quarter valued at approximately $178,000. Beech Hill Advisors Inc. bought a new position in shares of Viacom during the second quarter valued at approximately $285,000. Louisiana State Employees Retirement System increased its position in shares of Viacom by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 21,900 shares of the company’s stock valued at $735,000 after buying an additional 500 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Viacom by 24.4% in the second quarter. LS Investment Advisors LLC now owns 20,504 shares of the company’s stock valued at $688,000 after buying an additional 4,026 shares in the last quarter. Institutional investors and hedge funds own 76.62% of the company’s stock.
Viacom Inc. (VIAB) traded up 0.42% during midday trading on Friday, reaching $36.04. The company’s stock had a trading volume of 2,285,674 shares. The firm has a 50 day moving average price of $34.78 and a 200-day moving average price of $39.59. Viacom Inc. has a 12-month low of $32.68 and a 12-month high of $46.72. The company has a market cap of $14.48 billion, a P/E ratio of 11.91 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last announced its earnings results on Thursday, May 4th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.20. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Viacom had a return on equity of 32.00% and a net margin of 9.32%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.76 EPS. On average, equities research analysts predict that Viacom Inc. will post $3.87 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 13th. This represents a $0.80 annualized dividend and a yield of 2.22%. Viacom’s dividend payout ratio (DPR) is presently 26.40%.
A number of analysts have recently issued reports on VIAB shares. BidaskClub upgraded Viacom from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded Viacom from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research report on Thursday, July 13th. Cowen and Company reiterated a “hold” rating and set a $41.00 price target on shares of Viacom in a research report on Tuesday, July 11th. Morgan Stanley reiterated an “overweight” rating on shares of Viacom in a research report on Thursday, July 6th. Finally, Sanford C. Bernstein reiterated an “underperform” rating and set a $29.00 price target on shares of Viacom in a research report on Friday, June 16th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.14.
Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.
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