Millennium Management LLC boosted its stake in Viacom, Inc. (NASDAQ:VIAB) by 394.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 682,861 shares of the company’s stock after buying an additional 544,885 shares during the quarter. Millennium Management LLC owned approximately 0.17% of Viacom worth $17,550,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Pearl River Capital LLC purchased a new position in Viacom in the 4th quarter worth approximately $26,000. Bruderman Asset Management LLC lifted its stake in Viacom by 935.5% in the 4th quarter. Bruderman Asset Management LLC now owns 1,139 shares of the company’s stock worth $29,000 after purchasing an additional 1,029 shares in the last quarter. CWM LLC lifted its stake in Viacom by 507.6% in the 4th quarter. CWM LLC now owns 1,197 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. Clarus Wealth Advisors lifted its stake in Viacom by 3,279.5% in the 4th quarter. Clarus Wealth Advisors now owns 1,487 shares of the company’s stock worth $38,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Bremer Trust National Association purchased a new position in Viacom in the 4th quarter worth approximately $45,000. 80.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ VIAB opened at $29.68 on Wednesday. Viacom, Inc. has a 1 year low of $23.31 and a 1 year high of $34.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.31 and a quick ratio of 1.10. The company has a market cap of $11.93 billion, a PE ratio of 7.20, a PEG ratio of 0.88 and a beta of 1.45.
Viacom (NASDAQ:VIAB) last posted its earnings results on Tuesday, February 5th. The company reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.10. Viacom had a net margin of 11.60% and a return on equity of 23.34%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm earned $1.03 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that Viacom, Inc. will post 4.2 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a $0.20 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.80 annualized dividend and a yield of 2.70%. Viacom’s dividend payout ratio (DPR) is presently 19.42%.
A number of research firms have weighed in on VIAB. Zacks Investment Research lowered shares of Viacom from a “hold” rating to a “sell” rating in a research note on Saturday, January 26th. BidaskClub lowered shares of Viacom from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Royal Bank of Canada raised shares of Viacom from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $31.00 to $36.00 in a research note on Thursday, April 4th. ValuEngine lowered shares of Viacom from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Finally, Loop Capital raised shares of Viacom from a “hold” rating to a “buy” rating and raised their target price for the stock from $33.00 to $35.00 in a research note on Friday, March 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $34.57.
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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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