CIBC Asset Management Inc Increases Position in Viacom Inc. (VIAB)
CIBC Asset Management Inc boosted its position in Viacom Inc. (NASDAQ:VIAB) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,704 shares of the company’s stock after buying an additional 1,630 shares during the period. CIBC Asset Management Inc’s holdings in Viacom were worth $1,568,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its stake in shares of Viacom by 23.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,920 shares of the company’s stock worth $601,000 after buying an additional 3,440 shares during the last quarter. Strs Ohio raised its stake in shares of Viacom by 11.9% in the second quarter. Strs Ohio now owns 229,539 shares of the company’s stock worth $7,705,000 after buying an additional 24,500 shares during the last quarter. Moody Lynn & Lieberson LLC purchased a new stake in shares of Viacom during the second quarter worth approximately $6,759,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Viacom during the second quarter worth approximately $662,000. Finally, Wellington Shields Capital Management LLC raised its stake in shares of Viacom by 131.0% in the second quarter. Wellington Shields Capital Management LLC now owns 33,335 shares of the company’s stock worth $1,119,000 after buying an additional 18,904 shares during the last quarter. Hedge funds and other institutional investors own 77.38% of the company’s stock.
Shares of Viacom Inc. (NASDAQ VIAB) opened at 30.17 on Thursday. Viacom Inc. has a 1-year low of $29.65 and a 1-year high of $46.72. The company has a market cap of $12.12 billion, a PE ratio of 9.97 and a beta of 1.57. The firm has a 50-day moving average price of $34.25 and a 200 day moving average price of $39.12.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.12. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the company earned $1.05 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that Viacom Inc. will post $3.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.65%. Viacom’s dividend payout ratio (DPR) is currently 21.98%.
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A number of brokerages recently commented on VIAB. BMO Capital Markets reiterated a “market perform” rating and issued a $35.00 price objective (down from $42.00) on shares of Viacom in a research report on Wednesday. Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 price objective (down from $52.00) on shares of Viacom in a research report on Wednesday. Royal Bank Of Canada reiterated an “underperform” rating and issued a $30.00 price objective (down from $35.00) on shares of Viacom in a research report on Wednesday. Barclays PLC reiterated a “neutral” rating on shares of Viacom in a research report on Monday. Finally, UBS AG lowered their price objective on Viacom from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.14.
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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