Oxbow Advisors LLC Reduces Stake in Viacom Inc. (VIAB)
Oxbow Advisors LLC lowered its position in Viacom Inc. (NASDAQ:VIAB) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 71,880 shares of the company’s stock after selling 1,660 shares during the period. Oxbow Advisors LLC’s holdings in Viacom were worth $2,413,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. CrestPoint Capital Management LLC bought a new stake in shares of Viacom during the first quarter worth $373,000. SOL Capital Management CO boosted its stake in shares of Viacom by 3.2% in the first quarter. SOL Capital Management CO now owns 24,196 shares of the company’s stock worth $1,128,000 after buying an additional 750 shares during the last quarter. National Pension Service boosted its stake in shares of Viacom by 6.5% in the first quarter. National Pension Service now owns 318,187 shares of the company’s stock worth $14,751,000 after buying an additional 19,285 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Viacom by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 106,981 shares of the company’s stock worth $4,987,000 after buying an additional 1,600 shares during the last quarter. Finally, Denali Advisors LLC boosted its stake in shares of Viacom by 154.8% in the first quarter. Denali Advisors LLC now owns 100,400 shares of the company’s stock worth $4,681,000 after buying an additional 61,000 shares during the last quarter. Institutional investors and hedge funds own 76.57% of the company’s stock.
Viacom Inc. (VIAB) traded down 2.443% during midday trading on Tuesday, hitting $35.335. The stock had a trading volume of 1,896,160 shares. The stock’s 50-day moving average is $34.83 and its 200-day moving average is $39.60. Viacom Inc. has a one year low of $32.68 and a one year high of $46.72. The company has a market cap of $14.20 billion, a P/E ratio of 11.681 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, May 4th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.59 by $0.20. Viacom had a net margin of 9.32% and a return on equity of 32.00%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the previous year, the company posted $0.76 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that Viacom Inc. will post $3.87 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Tuesday, June 13th. Viacom’s dividend payout ratio (DPR) is 26.40%.
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A number of brokerages have recently weighed in on VIAB. Rosenblatt Securities began coverage on Viacom in a research report on Wednesday, April 5th. They set a “neutral” rating and a $45.00 price target on the stock. FBR & Co increased their price target on Viacom from $45.00 to $48.00 and gave the stock a “mkt perform” rating in a research report on Monday, April 10th. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 price target on shares of Viacom in a research report on Monday, April 17th. Pivotal Research reiterated a “hold” rating and set a $40.00 price target on shares of Viacom in a research report on Sunday, April 23rd. Finally, BMO Capital Markets dropped their price target on Viacom from $44.00 to $42.00 and set a “market perform” rating on the stock in a research report on Friday, May 5th. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. Viacom currently has a consensus 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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