Dimensional Fund Advisors LP Purchases 556,902 Shares of Viacom Inc. (VIAB)
Dimensional Fund Advisors LP grew its position in shares of Viacom Inc. (NASDAQ:VIAB) by 23.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,922,756 shares of the company’s stock after purchasing an additional 556,902 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.73% of Viacom worth $98,129,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in VIAB. Johnson Financial Group Inc. purchased a new position in Viacom in the 2nd quarter worth $108,000. First Personal Financial Services lifted its stake in Viacom by 5.9% in the second quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock worth $110,000 after purchasing an additional 182 shares during the last quarter. First Mercantile Trust Co. lifted its stake in Viacom by 1.6% in the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after purchasing an additional 54 shares during the last quarter. Fifth Third Bancorp lifted its stake in Viacom by 9.4% in the first quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock worth $122,000 after purchasing an additional 225 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Viacom by 13.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock worth $124,000 after purchasing an additional 423 shares during the last quarter. 79.18% of the stock is currently owned by institutional investors.
Several analysts have issued reports on VIAB shares. Zacks Investment Research lowered shares of Viacom from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Piper Jaffray Companies reiterated a “hold” rating and issued a $40.00 price objective on shares of Viacom in a report on Tuesday, September 26th. Loop Capital reiterated a “hold” rating and issued a $32.00 price objective (down previously from $36.00) on shares of Viacom in a report on Monday, September 25th. Cowen and Company lowered their target price on Viacom from $41.00 to $31.00 in a research note on Tuesday, September 19th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Viacom in a research note on Tuesday, September 12th. Seven analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $41.72.
Shares of Viacom Inc. (NASDAQ VIAB) opened at 27.55 on Wednesday. Viacom Inc. has a one year low of $26.65 and a one year high of $46.72. The firm has a 50-day moving average of $28.12 and a 200-day moving average of $35.05. The stock has a market cap of $11.08 billion, a PE ratio of 7.58 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last issued its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, topping 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 business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the business earned $1.05 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts expect that Viacom Inc. will post $3.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.90%. Viacom’s dividend payout ratio is currently 21.98%.
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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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