Viacom (NASDAQ:VIA) Upgraded by Guggenheim to Buy

Guggenheim upgraded shares of Viacom (NASDAQ:VIA) from a neutral rating to a buy rating in a report released on Wednesday morning, The Fly reports.

Other equities analysts have also recently issued reports about the company. BidaskClub cut Viacom from a hold rating to a sell rating in a report on Tuesday, June 11th. TheStreet raised Viacom from a c+ rating to a b- rating in a report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $34.00.

NASDAQ VIA traded down $0.69 during midday trading on Wednesday, hitting $28.07. The company had a trading volume of 310 shares, compared to its average volume of 64,924. The stock has a market cap of $11.41 billion, a P/E ratio of 7.64 and a beta of 1.25. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average of $34.93. Viacom has a twelve month low of $27.01 and a twelve month high of $38.00.



The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.85%.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Viacom by 42.1% in the fourth quarter. BlackRock Inc. now owns 299,537 shares of the company’s stock valued at $8,331,000 after purchasing an additional 88,801 shares in the last quarter. Northern Trust Corp raised its stake in shares of Viacom by 5.1% in the fourth quarter. Northern Trust Corp now owns 55,419 shares of the company’s stock valued at $1,541,000 after purchasing an additional 2,699 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Viacom by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 88,575 shares of the company’s stock valued at $2,465,000 after purchasing an additional 1,742 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Viacom by 74.6% in the fourth quarter. Bank of America Corp DE now owns 61,307 shares of the company’s stock valued at $1,704,000 after purchasing an additional 26,190 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Viacom by 4.1% in the fourth quarter. Millennium Management LLC now owns 25,686 shares of the company’s stock valued at $714,000 after purchasing an additional 1,003 shares in the last quarter. 1.93% of the stock is owned by institutional investors.

About Viacom

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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