California Public Employees Retirement System reduced its stake in Viacom, Inc. Class B (NASDAQ:VIAB) by 9.9% during the second quarter, HoldingsChannel.com reports. The firm owned 1,153,080 shares of the company’s stock after selling 126,819 shares during the period. California Public Employees Retirement System’s holdings in Viacom, Inc. Class B were worth $34,777,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Mount Yale Investment Advisors LLC purchased a new position in Viacom, Inc. Class B in the 1st quarter worth approximately $126,000. Financial Gravity Wealth Inc. purchased a new position in Viacom, Inc. Class B in the 1st quarter worth approximately $197,000. Tocqueville Asset Management L.P. purchased a new position in Viacom, Inc. Class B in the 2nd quarter worth approximately $227,000. IBM Retirement Fund purchased a new position in Viacom, Inc. Class B in the 1st quarter worth approximately $240,000. Finally, Intact Investment Management Inc. purchased a new position in Viacom, Inc. Class B in the 2nd quarter worth approximately $238,000. 78.99% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ VIAB opened at $32.48 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.41 and a current ratio of 1.69. Viacom, Inc. Class B has a twelve month low of $22.13 and a twelve month high of $35.55. The company has a market cap of $13.04 billion, a P/E ratio of 8.64, a PEG ratio of 1.21 and a beta of 1.52.

Viacom, Inc. Class B (NASDAQ:VIAB) last released its quarterly earnings results on Thursday, August 9th. The company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.11. Viacom, Inc. Class B had a return on equity of 23.53% and a net margin of 15.65%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the previous year, the company posted $1.17 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. research analysts predict that Viacom, Inc. Class B will post 4.09 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 17th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.46%. Viacom, Inc. Class B’s dividend payout ratio is presently 21.22%.

A number of equities research analysts have recently weighed in on the company. BidaskClub lowered Viacom, Inc. Class B from a “sell” rating to a “strong sell” rating in a research report on Friday, July 20th. Macquarie upgraded Viacom, Inc. Class B from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $34.00 to $37.00 in a research report on Thursday, September 20th. Barrington Research reiterated a “hold” rating on shares of Viacom, Inc. Class B in a research report on Wednesday, August 15th. Pivotal Research upgraded Viacom, Inc. Class B from a “hold” rating to a “buy” rating and cut their price objective for the stock from $34.00 to $32.00 in a research report on Tuesday, July 31st. They noted that the move was a valuation call. Finally, Cfra reiterated a “hold” rating and issued a $35.00 price objective on shares of Viacom, Inc. Class B in a research report on Wednesday, June 27th. Three investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company. Viacom, Inc. Class B currently has an average rating of “Hold” and an average price target of $33.95.

About Viacom, Inc. Class B

Viacom, Inc operates media brands that create entertainment content worldwide. The company creates television programs, motion pictures, short-form content, games, consumer products, podcasts, live events, and social media experiences. It operates through two segments, Media Networks and Filmed Entertainment.

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Institutional Ownership by Quarter for Viacom, Inc. Class B (NASDAQ:VIAB)

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