Schwab Charles Investment Management Inc. Boosts Position in Viacom Inc. (VIAB)

Schwab Charles Investment Management Inc. raised its stake in shares of Viacom Inc. (NASDAQ:VIAB) by 7.6% during the first quarter, Holdings Channel reports. The firm owned 1,434,293 shares of the company’s stock after buying an additional 101,737 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Viacom were worth $66,867,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in VIAB. BlackRock Inc. increased its position in shares of Viacom by 3,068.5% in the first quarter. BlackRock Inc. now owns 21,485,851 shares of the company’s stock valued at $1,001,671,000 after buying an additional 20,807,733 shares during the period. Wellington Management Group LLP increased its position in shares of Viacom by 3,113.9% in the first quarter. Wellington Management Group LLP now owns 20,233,146 shares of the company’s stock valued at $943,269,000 after buying an additional 19,603,597 shares during the period. Norges Bank acquired a new position in shares of Viacom during the fourth quarter valued at approximately $113,821,000. FMR LLC increased its position in shares of Viacom by 36.1% in the first quarter. FMR LLC now owns 9,311,109 shares of the company’s stock valued at $434,084,000 after buying an additional 2,467,925 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Viacom by 304.9% in the first quarter. Alliancebernstein L.P. now owns 2,494,611 shares of the company’s stock valued at $116,299,000 after buying an additional 1,878,470 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

Viacom Inc. (VIAB) traded down 0.5609% during midday trading on Thursday, reaching $34.3761. The company’s stock had a trading volume of 1,177,176 shares. The firm has a market capitalization of $13.81 billion, a PE ratio of 11.3640 and a beta of 1.53. The stock’s 50-day moving average price is $35.40 and its 200 day moving average price is $39.84. Viacom Inc. has a 1-year low of $33.44 and a 1-year high of $46.72.

Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.20. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Viacom had a return on equity of 32.00% and a net margin of 9.32%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. Equities analysts anticipate that Viacom Inc. will post $3.87 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.80 annualized dividend and a dividend yield of 2.31%. Viacom’s dividend payout ratio is currently 26.40%.

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Several equities analysts have commented on VIAB shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Viacom in a research report on Monday, April 17th. Rosenblatt Securities reaffirmed an “underweight” rating on shares of Viacom in a research report on Friday, April 14th. Royal Bank Of Canada cut their price objective on Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research report on Friday, May 5th. Pivotal Research reaffirmed a “hold” rating and issued a $40.00 price objective on shares of Viacom in a research report on Sunday, April 23rd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Viacom in a research report on Wednesday, March 22nd. Six investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $43.23.

Viacom Company Profile

Viacom Inc offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries.

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