Fort L.P. Invests $716,000 in Viacom Inc. (VIAB)
Fort L.P. bought a new stake in Viacom Inc. (NASDAQ:VIAB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,328 shares of the company’s stock, valued at approximately $716,000.
Other institutional investors have also made changes to their positions in the company. First Mercantile Trust Co. lifted its position in Viacom by 1.6% during the second quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock worth $115,000 after purchasing an additional 54 shares during the period. Cleararc Capital Inc. lifted its position in Viacom by 0.9% during the first quarter. Cleararc Capital Inc. now owns 8,495 shares of the company’s stock worth $396,000 after purchasing an additional 72 shares during the period. Stratos Wealth Partners LTD. lifted its position in Viacom by 0.6% during the first quarter. Stratos Wealth Partners LTD. now owns 11,781 shares of the company’s stock worth $549,000 after purchasing an additional 76 shares during the period. Boston Private Wealth LLC lifted its position in Viacom by 1.8% during the second quarter. Boston Private Wealth LLC now owns 6,093 shares of the company’s stock worth $205,000 after purchasing an additional 108 shares during the period. Finally, Great Lakes Advisors LLC lifted its position in Viacom by 0.7% during the first quarter. Great Lakes Advisors LLC now owns 16,983 shares of the company’s stock worth $792,000 after purchasing an additional 112 shares during the period. 79.18% of the stock is owned by institutional investors.
Viacom Inc. (VIAB) traded up 0.47% during mid-day trading on Monday, reaching $27.80. 477,937 shares of the company’s stock were exchanged. The stock has a market cap of $11.18 billion, a price-to-earnings ratio of 7.65 and a beta of 1.59. The stock has a 50-day moving average of $29.74 and a 200-day moving average of $36.52. Viacom Inc. has a one year low of $26.65 and a one year high of $46.72.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.12. The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Viacom had a return on equity of 30.89% and a net margin of 11.04%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. On average, equities research analysts anticipate that Viacom Inc. will post $3.87 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.20 dividend. 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 2.87%. Viacom’s dividend payout ratio (DPR) is currently 21.98%.
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VIAB has been the subject of several recent analyst reports. 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 report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Viacom in a research report on Thursday, August 3rd. UBS AG cut their price objective on shares of Viacom from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Barclays PLC set a $37.00 price objective on shares of Viacom and gave the stock an “equal weight” rating in a research report on Friday, August 4th. Finally, BidaskClub raised shares of Viacom from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Six analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $42.04.
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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