Korea Investment CORP Sells 69,408 Shares of Viacom Inc. (NASDAQ:VIAB)
Korea Investment CORP decreased its position in shares of Viacom Inc. (NASDAQ:VIAB) by 33.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,524 shares of the company’s stock after selling 69,408 shares during the period. Korea Investment CORP’s holdings in Viacom were worth $4,717,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in VIAB. BlackRock Inc. increased its stake in shares of Viacom by 3,068.5% in the first quarter. BlackRock Inc. now owns 21,485,851 shares of the company’s stock worth $1,001,671,000 after buying an additional 20,807,733 shares during the period. Wellington Management Group LLP increased its stake in shares of Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock worth $943,269,000 after buying an additional 19,603,597 shares during the period. State Street Corp increased its stake in shares of Viacom by 1.4% in the first quarter. State Street Corp now owns 15,523,719 shares of the company’s stock worth $723,729,000 after buying an additional 207,253 shares during the period. FMR LLC increased its stake in shares of Viacom by 36.1% in the first quarter. FMR LLC now owns 9,311,109 shares of the company’s stock worth $434,084,000 after buying an additional 2,467,925 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Viacom by 23.4% in the first quarter. TIAA CREF Investment Management LLC now owns 4,752,876 shares of the company’s stock worth $221,579,000 after buying an additional 900,264 shares during the period. Institutional investors own 77.38% of the company’s stock.
Viacom Inc. (VIAB) opened at 30.66 on Friday. The firm’s 50-day moving average is $34.02 and its 200 day moving average is $38.99. Viacom Inc. has a 52-week low of $29.65 and a 52-week high of $46.72. The firm has a market capitalization of $12.33 billion, a P/E ratio of 8.44 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. The business had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 EPS. Equities analysts anticipate that Viacom Inc. will post $3.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.61%. The ex-dividend date is Thursday, September 14th. Viacom’s payout ratio is 21.98%.
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A number of equities research analysts have recently commented on VIAB shares. Zacks Investment Research upgraded Viacom from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 price objective on shares of Viacom in a research report on Monday, April 17th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $48.00 price objective on shares of Viacom in a research report on Monday, June 12th. Barclays PLC set a $37.00 price objective on Viacom and gave the company an “equal weight” rating in a research report on Friday, August 4th. Finally, Sanford C. Bernstein restated an “underperform” rating and issued a $29.00 target price on shares of Viacom in a report on Friday, June 16th. Five investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $42.14.
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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