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.

Shares of NASDAQ VIAB opened at $29.91 on Friday. Viacom, Inc. has a 1-year low of $26.56 and a 1-year high of $35.55. The firm has a market cap of $12.44 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 1.09 and a beta of 1.42. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.50 and a quick ratio of 1.28.

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%.

TRADEMARK VIOLATION WARNING: This story was posted by Watch List News and is owned by of Watch List News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.watchlistnews.com/pnc-financial-services-group-inc-has-3-23-million-stake-in-viacom-inc-viab/2670121.html.

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.

Recommended Story: How to Invest in Marijuana Stocks

Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

Receive News & Ratings for Viacom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viacom and related companies with MarketBeat.com's FREE daily email newsletter.