LPL Financial LLC trimmed its position in shares of Viacom, Inc. (NASDAQ:VIAB) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,928 shares of the company’s stock after selling 3,915 shares during the period. LPL Financial LLC’s holdings in Viacom were worth $673,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its position in Viacom by 1.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 112,403 shares of the company’s stock worth $3,795,000 after purchasing an additional 1,605 shares in the last quarter. HPM Partners LLC grew its position in Viacom by 15.7% during the 2nd quarter. HPM Partners LLC now owns 12,731 shares of the company’s stock worth $384,000 after purchasing an additional 1,732 shares in the last quarter. Accuvest Global Advisors grew its position in Viacom by 7.8% during the 3rd quarter. Accuvest Global Advisors now owns 24,426 shares of the company’s stock worth $825,000 after purchasing an additional 1,757 shares in the last quarter. Hussman Strategic Advisors Inc. grew its position in Viacom by 9.2% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 27,300 shares of the company’s stock worth $922,000 after purchasing an additional 2,300 shares in the last quarter. Finally, Cadence Capital Management LLC grew its position in Viacom by 7.5% during the 3rd quarter. Cadence Capital Management LLC now owns 33,431 shares of the company’s stock worth $1,129,000 after purchasing an additional 2,338 shares in the last quarter. Hedge funds and other institutional investors own 78.71% of the company’s stock.
Several equities analysts have recently commented on the stock. ValuEngine cut shares of Viacom from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Goldman Sachs Group assumed coverage on shares of Viacom in a report on Thursday, November 29th. They set a “neutral” rating and a $34.00 price target on the stock. B. Riley lowered their price target on shares of Viacom from $39.00 to $30.00 in a report on Friday, December 28th. Morgan Stanley restated an “equal weight” rating and set a $34.00 price target on shares of Viacom in a report on Monday, October 15th. Finally, Barrington Research upgraded shares of Viacom from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $34.40.
Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Friday, November 16th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.04. The firm had revenue of $3.49 billion during 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%. Viacom’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. As a group, equities analysts anticipate that Viacom, Inc. will post 4.25 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 17th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Friday, December 14th. Viacom’s dividend payout ratio is presently 19.42%.
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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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