Capstone Asset Management Co. Reduces Stake in Viacom Inc. (VIAB)
Capstone Asset Management Co. lowered its position in Viacom Inc. (NASDAQ:VIAB) by 8.3% during the second quarter, Holdings Channel reports. The institutional investor owned 21,593 shares of the company’s stock after selling 1,965 shares during the period. Capstone Asset Management Co.’s holdings in Viacom were worth $725,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of VIAB. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Viacom by 15.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,202 shares of the company’s stock worth $103,000 after buying an additional 300 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after buying an additional 225 shares in the last quarter. First Personal Financial Services raised its stake in shares of Viacom by 998.2% in the first quarter. First Personal Financial Services now owns 3,086 shares of the company’s stock worth $144,000 after buying an additional 2,805 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Viacom by 80.6% in the first quarter. Whittier Trust Co. now owns 3,192 shares of the company’s stock worth $149,000 after buying an additional 1,425 shares in the last quarter. Finally, First Mercantile Trust Co. raised its stake in shares of Viacom by 56.9% in the first quarter. First Mercantile Trust Co. now owns 3,374 shares of the company’s stock worth $157,000 after buying an additional 1,223 shares in the last quarter. Institutional investors and hedge funds own 76.57% of the company’s stock.
Viacom Inc. (NASDAQ:VIAB) opened at 35.01 on Wednesday. Viacom Inc. has a 1-year low of $32.68 and a 1-year high of $46.72. The firm has a market capitalization of $14.06 billion, a P/E ratio of 11.57 and a beta of 1.57. The company’s 50-day moving average price is $34.83 and its 200-day moving average price is $39.60.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ 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 was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. Equities research analysts expect that Viacom Inc. will post $3.86 earnings per share for the current fiscal year.
The company also recently disclosed 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 of this dividend was Tuesday, June 13th. This represents a $0.80 annualized dividend and a yield of 2.29%. Viacom’s payout ratio is 26.40%.
A number of brokerages recently weighed in on VIAB. Royal Bank Of Canada reduced their price objective on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research report on Monday, May 15th. Cowen and Company restated a “hold” rating and set a $41.00 price objective on shares of Viacom in a research report on Tuesday, July 11th. Morgan Stanley restated an “overweight” rating on shares of Viacom in a research report on Thursday, July 6th. BidaskClub lowered Viacom from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Finally, Deutsche Bank AG lowered Viacom from a “hold” rating to a “sell” rating in a research report on Wednesday, May 10th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. Viacom has an average rating of “Hold” and a consensus target price of $43.14.
Viacom Company Profile
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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