Commerce Bank Invests $210,000 in Viacom, Inc. (VIAB) Stock
Commerce Bank acquired a new position in shares of Viacom, Inc. (NASDAQ:VIAB) in the third quarter, HoldingsChannel.com reports. The fund acquired 6,232 shares of the company’s stock, valued at approximately $210,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of Viacom by 36,808.3% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,429 shares of the company’s stock valued at $134,000 after buying an additional 4,417 shares during the period. Northstar Group Inc. acquired a new stake in shares of Viacom in the 3rd quarter valued at approximately $220,000. Raymond James Trust N.A. acquired a new stake in shares of Viacom in the 3rd quarter valued at approximately $234,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Viacom in the 2nd quarter valued at approximately $227,000. Finally, Lourd Capital LLC acquired a new stake in shares of Viacom in the 3rd quarter valued at approximately $257,000. 79.37% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on VIAB shares. ValuEngine cut Viacom from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. BidaskClub cut Viacom from a “sell” rating to a “strong sell” rating in a report on Friday, July 20th. B. Riley raised Viacom from a “neutral” rating to a “buy” rating and raised their price target for the company from $34.00 to $39.00 in a report on Wednesday, September 26th. Morgan Stanley reissued an “equal weight” rating and issued a $34.00 price target on shares of Viacom in a report on Monday, October 15th. Finally, Macquarie raised Viacom from a “neutral” rating to an “outperform” rating and raised their price target for the company from $34.00 to $37.00 in a report on Thursday, September 20th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $34.50.
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Viacom, Inc operates media brands that create entertainment content worldwide. The company creates television programs, motion pictures, short-form content, games, consumer products, podcasts, live events, and social media experiences. It operates through two segments, Media Networks and Filmed Entertainment.
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