Insight 2811 Inc. Has $763,000 Position in Viacom Inc. (NASDAQ:VIAB)
Insight 2811 Inc. boosted its position in shares of Viacom Inc. (NASDAQ:VIAB) by 18.5% during the second quarter, Holdings Channel reports. The firm owned 22,720 shares of the company’s stock after buying an additional 3,547 shares during the period. Insight 2811 Inc.’s holdings in Viacom were worth $763,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its position in Viacom by 3,068.5% in the first quarter. BlackRock Inc. now owns 21,485,851 shares of the company’s stock worth $1,001,671,000 after buying an additional 20,807,733 shares during the period. Wellington Management Group LLP boosted its position in Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock worth $943,269,000 after buying an additional 19,603,597 shares during the period. Oldfield Partners LLP purchased a new position in Viacom during the second quarter worth $153,511,000. FMR LLC boosted its position in Viacom by 36.1% in the first quarter. FMR LLC now owns 9,311,109 shares of the company’s stock worth $434,084,000 after buying an additional 2,467,925 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Viacom by 304.9% in the first quarter. Alliancebernstein L.P. now owns 2,494,611 shares of the company’s stock worth $116,299,000 after buying an additional 1,878,470 shares during the period. Institutional investors and hedge funds own 77.38% of the company’s stock.
Shares of Viacom Inc. (NASDAQ:VIAB) opened at 30.58 on Tuesday. The firm’s 50 day moving average is $34.80 and its 200 day moving average is $39.46. The stock has a market capitalization of $12.28 billion, a price-to-earnings ratio of 10.11 and a beta of 1.57. Viacom Inc. has a 52-week low of $30.26 and a 52-week high of $46.72.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.12. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 EPS. Equities analysts expect that Viacom Inc. will post $3.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, September 14th. Viacom’s payout ratio is presently 21.98%.
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A number of research analysts have weighed in on VIAB shares. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 price objective on shares of Viacom in a research report on Monday, April 17th. Rosenblatt Securities reiterated an “underweight” rating on shares of Viacom in a research report on Friday, April 14th. BidaskClub cut shares of Viacom from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 5th. Royal Bank Of Canada cut their price objective on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research report on Friday, May 5th. Finally, Pivotal Research reiterated a “hold” rating and set a $40.00 price objective on shares of Viacom in a research report on Sunday, April 23rd. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.13.
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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