Viacom Inc. (VIAB) Stake Cut by ARGI Investment Services LLC
ARGI Investment Services LLC cut its stake in Viacom Inc. (NASDAQ:VIAB) by 38.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,032 shares of the company’s stock after selling 22,143 shares during the period. ARGI Investment Services LLC’s holdings in Viacom were worth $1,209,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in VIAB. Wetherby Asset Management Inc. boosted its stake in Viacom by 0.7% in the first quarter. Wetherby Asset Management Inc. now owns 7,186 shares of the company’s stock valued at $335,000 after buying an additional 53 shares during the last quarter. First Mercantile Trust Co. boosted its stake in Viacom by 1.6% in the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock valued at $115,000 after buying an additional 54 shares during the last quarter. Cleararc Capital Inc. boosted its stake in shares of Viacom by 0.9% in the first quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock valued at $396,000 after buying an additional 72 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of Viacom by 0.6% in the first quarter. Stratos Wealth Partners LTD. now owns 11,781 shares of the company’s stock valued at $549,000 after buying an additional 76 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of Viacom by 0.5% in the first quarter. Suntrust Banks Inc. now owns 21,318 shares of the company’s stock valued at $991,000 after buying an additional 106 shares in the last quarter. 79.17% of the stock is owned by hedge funds and other institutional investors.
Viacom Inc. (NASDAQ:VIAB) traded up 0.58% on Thursday, reaching $29.30. 355,596 shares of the company’s stock traded hands. The firm’s 50-day moving average is $32.61 and its 200 day moving average is $38.09. Viacom Inc. has a 52-week low of $27.86 and a 52-week high of $46.72. The stock has a market capitalization of $11.78 billion, a PE ratio of 8.06 and a beta of 1.57.
Viacom (NASDAQ:VIAB) last posted its earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. The firm 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 business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 earnings per share. Analysts forecast that Viacom Inc. will post $3.87 EPS for the current year.
The firm 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 $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 2.75%. Viacom’s dividend payout ratio (DPR) is presently 21.98%.
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VIAB has been the subject of several research reports. BidaskClub cut shares of Viacom from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research raised shares of Viacom from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Thursday, July 13th. Royal Bank Of Canada lowered their price objective on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating for the company in a research note on Friday, May 5th. Jefferies Group LLC reissued a “buy” rating and set a $52.00 price objective on shares of Viacom in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG cut shares of Viacom from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Six analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the stock. Viacom currently has a consensus rating of “Hold” and an average target price of $42.04.
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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