Viacom Inc. (VIAB) Sees Large Volume Increase Following Dividend Announcement
Viacom Inc. (NASDAQ:VIAB) shares saw unusually-high trading volume on Wednesday following a dividend announcement from the company. Approximately 5,281,609 shares changed hands during trading, an increase of 38% from the previous session’s volume of 3,825,589 shares.The stock last traded at $35.66 and had previously closed at $36.16.
The newly announced dividend which will be paid on Monday, October 3rd. Stockholders of record on Thursday, September 22nd will be paid a $0.20 dividend. The ex-dividend date is Thursday, September 22nd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.22%. Viacom’s payout ratio is currently 30.83%.
VIAB has been the topic of a number of research reports. Vetr lowered shares of Viacom from a “sell” rating to a “strong sell” rating and set a $39.00 price objective on the stock. in a research note on Monday, May 30th. Royal Bank Of Canada reiterated a “sell” rating on shares of Viacom in a research note on Tuesday, May 31st. Jefferies Group restated a “buy” rating on shares of Viacom in a research report on Friday, June 10th. JPMorgan Chase & Co. restated a “buy” rating on shares of Viacom in a research report on Friday, June 10th. Finally, Zacks Investment Research lowered shares of Viacom from a “hold” rating to a “sell” rating in a research report on Monday, June 13th. Four equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.03.
The company has a 50-day moving average of $40.60 and a 200-day moving average of $41.47. The stock has a market capitalization of $14.30 billion, a P/E ratio of 6.94 and a beta of 1.43.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 4th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Viacom had a net margin of 15.85% and a return on equity of 46.74%. The company had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the company earned $1.47 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities analysts forecast that Viacom Inc. will post $3.91 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. boosted its stake in Viacom by 1.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 295,542 shares of the company’s stock valued at $12,199,000 after buying an additional 3,261 shares in the last quarter. DnB Asset Management AS boosted its stake in Viacom by 84.0% in the first quarter. DnB Asset Management AS now owns 27,814 shares of the company’s stock valued at $1,148,000 after buying an additional 12,700 shares in the last quarter. OLD National Bancorp IN boosted its stake in Viacom by 242.6% in the first quarter. OLD National Bancorp IN now owns 19,868 shares of the company’s stock valued at $820,000 after buying an additional 14,068 shares in the last quarter. PGGM Investments boosted its stake in Viacom by 2.5% in the first quarter. PGGM Investments now owns 230,024 shares of the company’s stock valued at $9,495,000 after buying an additional 5,579 shares in the last quarter. Finally, Commonwealth Equity Services Inc boosted its stake in Viacom by 30.4% in the first quarter. Commonwealth Equity Services Inc now owns 24,545 shares of the company’s stock valued at $1,013,000 after buying an additional 5,727 shares in the last quarter. 76.12% of the stock is currently owned by institutional investors.
Viacom Inc (Viacom) is an entertainment content company that connects with audiences in over 160 countries and territories and creates compelling television programs, motion pictures, short-form video, applications, games, consumer products, social media and other entertainment content. The Company operates through two segments: Media Networks and Filmed Entertainment.
Receive News & Ratings for Viacom Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viacom Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.