Retirement Systems of Alabama Buys 36,342 Shares of Viacom Inc. (NASDAQ:VIAB)
Retirement Systems of Alabama increased its position in shares of Viacom Inc. (NASDAQ:VIAB) by 13.2% during the second quarter, Holdings Channel reports. The fund owned 311,854 shares of the company’s stock after buying an additional 36,342 shares during the period. Retirement Systems of Alabama’s holdings in Viacom were worth $10,469,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LMR Partners LLP bought a new position in Viacom during the first quarter worth about $874,000. Wetherby Asset Management Inc. raised its position in Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock worth $335,000 after buying an additional 53 shares during the last quarter. Stuyvesant Capital Management raised its position in Viacom by 7.7% in the first quarter. Stuyvesant Capital Management now owns 68,050 shares of the company’s stock worth $3,172,000 after buying an additional 4,850 shares during the last quarter. Geode Capital Management LLC raised its position in Viacom by 9.5% in the first quarter. Geode Capital Management LLC now owns 3,518,736 shares of the company’s stock worth $163,819,000 after buying an additional 306,346 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Viacom by 7.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,434,293 shares of the company’s stock worth $66,867,000 after buying an additional 101,737 shares during the last quarter. 77.38% of the stock is currently owned by institutional investors and hedge funds.
Viacom Inc. (VIAB) opened at 30.66 on Friday. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 8.44 and a beta of 1.57. The company has a 50-day moving average price of $34.02 and a 200 day moving average price of $38.99. Viacom Inc. has a 1-year low of $29.65 and a 1-year high of $46.72.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.12. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same period last year, the company earned $1.05 earnings per share. Viacom’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Viacom Inc. will post $3.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.61%. Viacom’s dividend payout ratio is 21.98%.
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A number of research analysts have recently issued reports on VIAB shares. UBS AG dropped their target price on Viacom from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 4th. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 target price on shares of Viacom in a report on Thursday, August 3rd. Deutsche Bank AG lowered Viacom from a “hold” rating to a “sell” rating in a report on Wednesday, May 10th. Royal Bank Of Canada dropped their target price on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a report on Friday, May 5th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Viacom in a report on Thursday, July 6th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. Viacom currently has a consensus rating of “Hold” and an average target price 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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