Guggenheim upgraded shares of Viacom (NASDAQ:VIAB) from a neutral rating to a buy rating in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. Guggenheim currently has $35.00 price target on the stock, up from their previous price target of $31.00.
VIAB has been the subject of several other research reports. ValuEngine upgraded shares of Viacom from a strong sell rating to a sell rating in a research note on Saturday, August 10th. BMO Capital Markets reduced their price objective on shares of Viacom from $34.00 to $33.00 and set a market perform rating for the company in a research note on Thursday, May 16th. TheStreet upgraded shares of Viacom from a c+ rating to a b- rating in a research note on Friday, April 26th. BidaskClub upgraded shares of Viacom from a sell rating to a hold rating in a research note on Friday, July 5th. Finally, Macquarie cut shares of Viacom from an outperform rating to a neutral rating and reduced their price objective for the company from $37.00 to $31.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $34.14.
VIAB stock opened at $26.02 on Wednesday. Viacom has a one year low of $23.31 and a one year high of $34.44. The stock has a market capitalization of $10.78 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 0.96 and a beta of 1.29. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.15 and a current ratio of 1.36. The company has a fifty day moving average of $30.31 and a 200-day moving average of $29.33.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 annualized dividend and a yield of 3.07%. Viacom’s dividend payout ratio (DPR) is currently 19.42%.
A number of large investors have recently bought and sold shares of VIAB. Nuveen Asset Management LLC increased its holdings in Viacom by 487.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 5,170,026 shares of the company’s stock valued at $154,429,000 after acquiring an additional 4,290,648 shares in the last quarter. AQR Capital Management LLC increased its holdings in Viacom by 40.5% during the 1st quarter. AQR Capital Management LLC now owns 10,680,153 shares of the company’s stock valued at $294,131,000 after acquiring an additional 3,076,039 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in Viacom by 836.3% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,850,277 shares of the company’s stock valued at $80,007,000 after acquiring an additional 2,545,862 shares in the last quarter. Vanguard Group Inc. increased its holdings in Viacom by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 41,525,508 shares of the company’s stock valued at $1,240,367,000 after acquiring an additional 1,730,488 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in Viacom by 41.3% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 3,579,799 shares of the company’s stock valued at $100,485,000 after acquiring an additional 1,046,796 shares in the last quarter. Hedge funds and other institutional investors own 78.71% of the company’s stock.
Viacom Company Profile
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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