PNC Financial Services Group Inc. Has $3.23 Million Stake in Viacom, Inc. (VIAB)
PNC Financial Services Group Inc. raised its stake in Viacom, Inc. (NASDAQ:VIAB) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 95,743 shares of the company’s stock after purchasing an additional 11,482 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Viacom were worth $3,233,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently modified their holdings of VIAB. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Viacom by 36,808.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,429 shares of the company’s stock worth $134,000 after purchasing an additional 4,417 shares during the last quarter. Commerce Bank purchased a new stake in shares of Viacom in the third quarter worth approximately $210,000. WINTON GROUP Ltd purchased a new stake in shares of Viacom in the third quarter worth approximately $212,000. ClariVest Asset Management LLC purchased a new stake in shares of Viacom in the third quarter worth approximately $215,000. Finally, Northstar Group Inc. purchased a new stake in shares of Viacom in the third quarter worth approximately $220,000. 69.49% of the stock is owned by hedge funds and other institutional investors.
VIAB has been the subject of a number of research analyst reports. ValuEngine raised Viacom from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. BidaskClub raised Viacom from a “hold” rating to a “buy” rating in a research report on Friday, October 19th. Barrington Research reaffirmed a “hold” rating on shares of Viacom in a research report on Monday, November 19th. B. Riley raised Viacom from a “neutral” rating to a “buy” rating and increased their price target for the company from $34.00 to $39.00 in a research report on Wednesday, September 26th. Finally, Goldman Sachs Group initiated coverage on Viacom in a research report on Thursday, November 29th. They set a “neutral” rating and a $34.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.15.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Friday, November 16th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.04. Viacom had a return on equity of 23.68% and a net margin of 13.28%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same period in the prior year, the company earned $0.77 earnings per share. Viacom’s revenue was up 5.0% compared to the same quarter last year. Analysts anticipate that Viacom, Inc. will post 4.28 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 17th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, December 14th. Viacom’s dividend payout ratio (DPR) is 19.42%.
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Viacom Company 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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