CIBC Asset Management Inc boosted its holdings in Viacom, Inc. (NASDAQ:VIAB) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,757 shares of the company’s stock after purchasing an additional 2,237 shares during the quarter. CIBC Asset Management Inc’s holdings in Viacom were worth $1,032,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Point View Wealth Management Inc. boosted its stake in Viacom by 8.4% in the first quarter. Point View Wealth Management Inc. now owns 68,919 shares of the company’s stock worth $1,935,000 after buying an additional 5,316 shares in the last quarter. Toronto Dominion Bank boosted its stake in shares of Viacom by 175.9% during the first quarter. Toronto Dominion Bank now owns 654,055 shares of the company’s stock valued at $18,357,000 after purchasing an additional 417,003 shares during the period. State Treasurer State of Michigan raised its holdings in shares of Viacom by 0.7% during the first quarter. State Treasurer State of Michigan now owns 101,904 shares of the company’s stock valued at $2,860,000 after acquiring an additional 700 shares in the last quarter. Personal Resources Investment & Strategic Management Inc. raised its holdings in shares of Viacom by 4.4% during the first quarter. Personal Resources Investment & Strategic Management Inc. now owns 80,444 shares of the company’s stock valued at $2,258,000 after acquiring an additional 3,399 shares in the last quarter. Finally, First Allied Advisory Services Inc. raised its holdings in shares of Viacom by 4.0% during the first quarter. First Allied Advisory Services Inc. now owns 28,520 shares of the company’s stock valued at $800,000 after acquiring an additional 1,090 shares in the last quarter. 80.01% of the stock is currently owned by hedge funds and other institutional investors.
VIAB has been the topic of a number of recent research reports. Royal Bank of Canada raised Viacom from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $31.00 to $36.00 in a research note on Thursday, April 4th. ValuEngine raised Viacom from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. BMO Capital Markets dropped their price objective on Viacom from $34.00 to $33.00 and set a “market perform” rating on the stock in a research report on Thursday, May 16th. BidaskClub raised Viacom from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 1st. Finally, TheStreet raised Viacom from a “c+” rating to a “b-” rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. Viacom has an average rating of “Hold” and an average price target of $34.47.
VIAB traded down $0.45 during trading hours on Friday, reaching $29.39. 2,952,600 shares of the company’s stock traded hands, compared to its average volume of 4,364,254. The company has a quick ratio of 1.07, a current ratio of 1.29 and a debt-to-equity ratio of 1.08. The stock has a market cap of $11.75 billion, a P/E ratio of 7.13, a PEG ratio of 1.00 and a beta of 1.32. Viacom, Inc. has a 52-week low of $23.31 and a 52-week high of $34.44.
Viacom (NASDAQ:VIAB) last issued its earnings results on Friday, May 10th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.15. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.06 billion. Viacom had a return on equity of 22.60% and a net margin of 12.63%. Viacom’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. Equities analysts anticipate that Viacom, Inc. will post 3.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, June 14th. Viacom’s payout ratio is 19.42%.
Viacom Inc operates media brands that create entertainment content worldwide. It operates through two segments, Media Networks and Filmed Entertainment. The Media Networks segment offers entertainment content, services, and related branded products for consumers through approximately 314 locally programmed and operated television channels, including Nickelodeon, MTV, BET, Comedy Central, Paramount Network, Nick Jr., VH1, TV Land, CMT, Logo, Channel 5, Milkshake!, Telefe, Colors, Paramount Channel, TeenNick, Nicktoons, Nick Music, MTV2, MTV Classic, MTV Live, BET Her, BET Gospel, and BET Hip Hop, as well as through online, mobile, and apps.
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