Daiwa Securities Group Inc. Has $956,000 Stake in Viacom Inc. (VIAB)
Daiwa Securities Group Inc. reduced its stake in Viacom Inc. (NASDAQ:VIAB) by 80.3% during the second quarter, Holdings Channel reports. The fund owned 28,501 shares of the company’s stock after selling 115,969 shares during the period. Daiwa Securities Group Inc.’s holdings in Viacom were worth $956,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in VIAB. LMR Partners LLP purchased a new stake in shares of Viacom during the first quarter valued at about $874,000. Wetherby Asset Management Inc. increased its stake in shares of Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock valued at $335,000 after buying an additional 53 shares during the last quarter. Stuyvesant Capital Management increased its stake in shares of Viacom by 7.7% in the first quarter. Stuyvesant Capital Management now owns 68,050 shares of the company’s stock valued at $3,172,000 after buying an additional 4,850 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Viacom by 9.5% in the first quarter. Geode Capital Management LLC now owns 3,518,736 shares of the company’s stock valued at $163,819,000 after buying an additional 306,346 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Viacom by 7.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,434,293 shares of the company’s stock valued at $66,867,000 after buying an additional 101,737 shares during the last quarter. 77.38% of the stock is owned by institutional investors and hedge funds.
Viacom Inc. (NASDAQ:VIAB) opened at 30.07 on Friday. Viacom Inc. has a one year low of $29.65 and a one year high of $46.72. The company’s 50-day moving average is $34.12 and its 200 day moving average is $39.06. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 8.27 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last released its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.12. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 EPS. Equities analysts expect that Viacom Inc. will post $3.87 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 2.66%. Viacom’s dividend payout ratio (DPR) is presently 21.98%.
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Several analysts have issued reports on VIAB shares. UBS Group AG decreased their price objective on shares of Viacom from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Viacom in a research note on Thursday, August 3rd. Deutsche Bank AG downgraded shares of Viacom from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Royal Bank Of Canada decreased their price objective on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating for the company in a research note on Friday, May 5th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Viacom in a research note on Thursday, July 6th. 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 stock. Viacom presently has an average 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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