Viacom Inc. (VIAB) is Grisanti Capital Management LLC’s 7th Largest Position
Grisanti Capital Management LLC boosted its position in Viacom Inc. (NASDAQ:VIAB) by 131.7% during the second quarter, Holdings Channel reports. The fund owned 316,180 shares of the company’s stock after buying an additional 179,700 shares during the period. Viacom accounts for approximately 4.6% of Grisanti Capital Management LLC’s holdings, making the stock its 7th largest position. Grisanti Capital Management LLC’s holdings in Viacom were worth $10,614,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. LMR Partners LLP purchased a new position in Viacom during the first quarter worth about $874,000. Wetherby Asset Management Inc. boosted 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 boosted 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 boosted 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. boosted 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. Hedge funds and other institutional investors own 77.38% of the company’s stock.
Viacom Inc. (NASDAQ:VIAB) opened at 30.66 on Friday. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 8.44 and a beta of 1.57. The company’s 50-day moving average price is $34.02 and its 200-day moving average price is $38.99. Viacom Inc. has a 52-week low of $29.65 and a 52-week high of $46.72.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, August 3rd. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. Viacom’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities research analysts expect that Viacom Inc. will post $3.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.80 dividend on an annualized basis and a yield of 2.61%. Viacom’s dividend payout ratio is currently 21.98%.
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A number of equities analysts have recently issued reports on VIAB shares. UBS AG cut their price objective on Viacom from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and set a $52.00 target price on shares of Viacom in a report on Thursday, August 3rd. Deutsche Bank AG cut 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 for the company in a report on Friday, May 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Viacom in a report on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. Viacom presently has a consensus rating of “Hold” and a consensus price target of $42.14.
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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