Viacom Inc. (VIAB) Shares Bought by Wellington Shields Capital Management LLC
Wellington Shields Capital Management LLC lifted its stake in shares of Viacom Inc. (NASDAQ:VIAB) by 21.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,341 shares of the company’s stock after purchasing an additional 7,006 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Viacom were worth $1,123,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia boosted its position in shares of Viacom by 5.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 121,622 shares of the company’s stock worth $4,081,000 after purchasing an additional 5,839 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Viacom during the 2nd quarter worth about $22,120,000. Tobam bought a new position in Viacom in the 2nd quarter valued at about $1,886,000. Andra AP fonden lifted its position in Viacom by 5.7% in the 2nd quarter. Andra AP fonden now owns 68,700 shares of the company’s stock valued at $2,306,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Viacom by 36.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 33,302 shares of the company’s stock valued at $1,118,000 after acquiring an additional 8,932 shares in the last quarter. 78.75% of the stock is currently owned by institutional investors.
Viacom Inc. (NASDAQ:VIAB) traded down $0.17 on Tuesday, hitting $24.72. 6,051,500 shares of the stock were exchanged, compared to its average volume of 4,972,812. The stock has a market cap of $10,020.00, a price-to-earnings ratio of 6.75, a P/E/G ratio of 0.86 and a beta of 1.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.35 and a quick ratio of 1.11. Viacom Inc. has a 12-month low of $22.88 and a 12-month high of $46.72.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.24%. Viacom’s dividend payout ratio (DPR) is currently 22.10%.
Several equities analysts recently weighed in on VIAB shares. Cowen and Company dropped their price target on shares of Viacom from $41.00 to $31.00 in a research report on Tuesday, September 19th. UBS AG dropped their price target on shares of Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Viacom in a research report on Thursday, August 3rd. Guggenheim reaffirmed a “buy” rating and issued a $37.00 price target (down previously from $40.00) on shares of Viacom in a research report on Friday, October 6th. Finally, Credit Suisse Group set a $38.00 price target on shares of Viacom and gave the company a “buy” rating in a research report on Wednesday, November 1st. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. Viacom presently has a consensus rating of “Hold” and a consensus price target of $38.85.
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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