Profund Advisors LLC Has $1.01 Million Position in Viacom Inc. (VIAB)
Profund Advisors LLC increased its holdings in Viacom Inc. (NASDAQ:VIAB) by 8.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 30,207 shares of the company’s stock after acquiring an additional 2,435 shares during the period. Profund Advisors LLC’s holdings in Viacom were worth $1,014,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. grew its position in Viacom by 6.4% in the second quarter. BlackRock Inc. now owns 22,863,371 shares of the company’s stock worth $767,522,000 after acquiring an additional 1,377,520 shares during the period. Wellington Management Group LLP grew its position in 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 acquiring an additional 19,603,597 shares during the period. State Street Corp grew its position in 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 acquiring an additional 207,253 shares during the period. FMR LLC grew its position in 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 acquiring an additional 2,467,925 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in 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 acquiring an additional 900,264 shares during the period. Institutional investors own 79.18% of the company’s stock.
Shares of Viacom Inc. (VIAB) opened at 27.40 on Friday. The firm has a 50-day moving average price of $29.28 and a 200-day moving average price of $36.20. Viacom Inc. has a 1-year low of $26.65 and a 1-year high of $46.72. The firm has a market capitalization of $11.02 billion, a PE ratio of 7.54 and a beta of 1.59.
Viacom (NASDAQ:VIAB) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.12. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Viacom had a net margin of 11.04% and a return on equity of 30.89%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. On average, analysts forecast that Viacom Inc. will post $3.87 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be given a $0.20 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.92%. Viacom’s payout ratio is currently 21.98%.
Several research analysts recently weighed in 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. J P Morgan Chase & Co restated an “overweight” rating and set a $48.00 price target on shares of Viacom in a research report on Monday, June 12th. Barclays PLC set a $37.00 price target on Viacom and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Wells Fargo & Company lowered Viacom from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 5th. Finally, Jefferies Group LLC restated a “buy” rating and set a $43.00 price target (down from $52.00) on shares of Viacom in a research report on Wednesday, August 9th. Six investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.80.
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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