Shell Asset Management Co. Has $735,000 Position in Viacom Inc. (VIAB)
Shell Asset Management Co. continued to hold its stake in shares of Viacom Inc. (NASDAQ:VIAB) during the second quarter, Holdings Channel reports. The institutional investor owned 21,889 shares of the company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Viacom were worth $735,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Wetherby Asset Management Inc. boosted 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 worth $335,000 after buying an additional 53 shares during the period. Cleararc Capital Inc. boosted its stake in shares of Viacom by 0.9% in the first quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock worth $396,000 after buying an additional 72 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of Viacom by 0.6% in the first quarter. Stratos Wealth Partners LTD. now owns 11,781 shares of the company’s stock worth $549,000 after buying an additional 76 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Viacom by 0.5% in the first quarter. Suntrust Banks Inc. now owns 21,318 shares of the company’s stock worth $991,000 after buying an additional 106 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in shares of Viacom by 0.7% in the first quarter. Great Lakes Advisors LLC now owns 16,983 shares of the company’s stock worth $792,000 after buying an additional 112 shares during the period. 77.38% of the stock is owned by institutional investors.
Viacom Inc. (NASDAQ:VIAB) opened at 30.07 on Friday. Viacom Inc. has a 52 week low of $29.65 and a 52 week high of $46.72. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 8.27 and a beta of 1.57. The company has a 50 day moving average of $34.12 and a 200 day moving average of $39.06.
Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.12. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Viacom Inc. will post $3.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, September 14th. Viacom’s dividend payout ratio (DPR) is presently 21.98%.
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A number of equities research analysts have recently issued reports on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Viacom in a research note on Monday, April 17th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $48.00 price objective on shares of Viacom in a research note on Monday, June 12th. BidaskClub cut shares of Viacom from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $35.00 price objective (down previously from $42.00) on shares of Viacom in a research note on Wednesday. Finally, Royal Bank Of Canada cut 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 Monday, May 15th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. Viacom currently has a consensus rating of “Hold” and an average price target of $42.14.
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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