Wetherby Asset Management Inc. Has $234,000 Stake in Viacom Inc. (VIAB)
Wetherby Asset Management Inc. reduced its position in Viacom Inc. (NASDAQ:VIAB) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,994 shares of the company’s stock after selling 192 shares during the period. Wetherby Asset Management Inc.’s holdings in Viacom were worth $234,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of VIAB. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position 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 boosted its position in Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock valued at $122,000 after buying an additional 225 shares during the period. First Personal Financial Services boosted its position in Viacom by 998.2% in the first quarter. First Personal Financial Services now owns 3,086 shares of the company’s stock valued at $144,000 after buying an additional 2,805 shares during the period. Delta Asset Management LLC TN boosted its position in Viacom by 12.2% in the second quarter. Delta Asset Management LLC TN now owns 4,358 shares of the company’s stock valued at $146,000 after buying an additional 475 shares during the period. Finally, Whittier Trust Co. boosted its position in Viacom by 80.6% in the first quarter. Whittier Trust Co. now owns 3,192 shares of the company’s stock valued at $149,000 after buying an additional 1,425 shares during the period. 77.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Viacom Inc. (NASDAQ:VIAB) opened at 29.21 on Friday. Viacom Inc. has a one year low of $29.18 and a one year high of $46.72. The stock’s 50 day moving average price is $33.44 and its 200 day moving average price is $38.66. The company has a market cap of $11.75 billion, a PE ratio of 8.04 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 posted $1.05 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts predict that Viacom Inc. will post $3.87 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.74%. Viacom’s payout ratio is 21.98%.
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Several equities analysts have weighed in on VIAB shares. UBS AG lowered their target price on Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Viacom in a research note on Thursday, August 3rd. Deutsche Bank AG cut Viacom from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Royal Bank Of Canada lowered their target price on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research note on Friday, May 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Viacom in a research note on Thursday, July 6th. Six analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. Viacom has an average rating of “Hold” and an average target price of $42.04.
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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