Gabelli Funds LLC Has $7.67 Million Holdings in Viacom, Inc. Class B (VIAB)
Gabelli Funds LLC trimmed its stake in Viacom, Inc. Class B (NASDAQ:VIAB) by 33.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,400 shares of the company’s stock after selling 125,600 shares during the quarter. Gabelli Funds LLC owned 0.06% of Viacom, Inc. Class B worth $7,673,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC bought a new stake in Viacom, Inc. Class B in the first quarter worth $126,000. Financial Gravity Wealth Inc. bought a new stake in Viacom, Inc. Class B in the first quarter worth $197,000. Campbell & CO Investment Adviser LLC bought a new stake in Viacom, Inc. Class B in the first quarter worth $238,000. IBM Retirement Fund bought a new stake in Viacom, Inc. Class B in the first quarter worth $240,000. Finally, Intact Investment Management Inc. bought a new stake in Viacom, Inc. Class B in the second quarter worth $238,000. 79.09% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. Pivotal Research raised Viacom, Inc. Class B from a “hold” rating to a “buy” rating and lowered their price target for the company from $34.00 to $32.00 in a report on Tuesday, July 31st. They noted that the move was a valuation call. BidaskClub raised Viacom, Inc. Class B from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Barrington Research reaffirmed a “hold” rating on shares of Viacom, Inc. Class B in a report on Wednesday, August 15th. Cfra reaffirmed a “hold” rating and set a $35.00 price target on shares of Viacom, Inc. Class B in a report on Wednesday, June 27th. Finally, Credit Suisse Group assumed coverage on Viacom, Inc. Class B in a report on Tuesday, July 10th. They set a “neutral” rating and a $33.00 price target on the stock. Five analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $33.82.
Viacom, Inc. Class B (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, August 9th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.27 billion. Viacom, Inc. Class B had a return on equity of 23.53% and a net margin of 15.65%. Viacom, Inc. Class B’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. research analysts anticipate that Viacom, Inc. Class B will post 4.1 earnings per share for the current year.
The company also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, September 14th. Viacom, Inc. Class B’s dividend payout ratio (DPR) is presently 21.22%.
Viacom, Inc. Class B Profile
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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