Assenagon Asset Management S.A. boosted its position in Viacom, Inc. (NASDAQ:VIAB) by 1,627.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,683 shares of the company’s stock after buying an additional 314,365 shares during the period. Assenagon Asset Management S.A. owned approximately 0.08% of Viacom worth $11,265,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Mount Yale Investment Advisors LLC purchased a new position in Viacom in the first quarter valued at approximately $126,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Viacom by 36,808.3% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,429 shares of the company’s stock valued at $134,000 after purchasing an additional 4,417 shares during the last quarter. Northstar Group Inc. purchased a new position in Viacom in the third quarter valued at approximately $220,000. Raymond James Trust N.A. purchased a new position in Viacom in the third quarter valued at approximately $234,000. Finally, Tocqueville Asset Management L.P. purchased a new position in Viacom in the second quarter valued at approximately $227,000. 81.31% of the stock is owned by institutional investors and hedge funds.
VIAB has been the topic of several research analyst reports. TheStreet upgraded Viacom from a “c+” rating to a “b-” rating in a research note on Friday, August 31st. Zacks Investment Research upgraded Viacom from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Friday, October 12th. B. Riley upgraded Viacom from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $39.00 in a research note on Wednesday, September 26th. Pivotal Research upgraded Viacom from a “hold” rating to a “buy” rating and dropped their price objective for the company from $34.00 to $32.00 in a research note on Tuesday, July 31st. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Viacom from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $34.16.
Shares of Viacom stock traded up $0.92 during trading on Thursday, hitting $31.75. The stock had a trading volume of 2,927,449 shares, compared to its average volume of 4,977,371. The stock has a market cap of $12.42 billion, a P/E ratio of 7.71, a PEG ratio of 1.18 and a beta of 1.40. Viacom, Inc. has a 12 month low of $26.09 and a 12 month high of $35.55. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.28 and a current ratio of 1.50.
Viacom (NASDAQ:VIAB) last released its quarterly earnings results on Friday, November 16th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The firm had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.37 billion. Viacom had a net margin of 13.28% and a return on equity of 23.68%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Sell-side analysts predict that Viacom, Inc. will post 4.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 17th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. Viacom’s payout ratio is currently 19.42%.
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Viacom Company Profile
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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