State Treasurer State of Michigan Sells 17,200 Shares of Viacom, Inc. (NASDAQ:VIAB)

State Treasurer State of Michigan lessened its holdings in Viacom, Inc. (NASDAQ:VIAB) by 16.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,704 shares of the company’s stock after selling 17,200 shares during the quarter. State Treasurer State of Michigan’s holdings in Viacom were worth $2,530,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Empirical Finance LLC grew its position in Viacom by 0.9% in the 2nd quarter. Empirical Finance LLC now owns 86,807 shares of the company’s stock valued at $2,593,000 after acquiring an additional 754 shares during the last quarter. Norinchukin Bank The lifted its holdings in shares of Viacom by 3.7% in the 1st quarter. Norinchukin Bank The now owns 67,121 shares of the company’s stock worth $1,884,000 after buying an additional 2,375 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Viacom by 175.9% in the 1st quarter. Toronto Dominion Bank now owns 654,055 shares of the company’s stock worth $18,357,000 after buying an additional 417,003 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Viacom by 1,245.1% in the 2nd quarter. CENTRAL TRUST Co now owns 23,135 shares of the company’s stock worth $733,000 after buying an additional 21,415 shares during the period. Finally, Cleararc Capital Inc. purchased a new stake in shares of Viacom in the 1st quarter worth $241,000. 79.89% of the stock is currently owned by institutional investors.

Shares of NASDAQ VIAB traded down $0.77 during mid-day trading on Friday, reaching $30.01. 5,529,485 shares of the company were exchanged, compared to its average volume of 3,618,155. The company has a current ratio of 1.36, a quick ratio of 1.07 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $12.41 billion, a PE ratio of 7.28, a price-to-earnings-growth ratio of 1.05 and a beta of 1.29. Viacom, Inc. has a 1 year low of $23.31 and a 1 year high of $34.44. The business has a 50-day simple moving average of $30.59.

Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.14. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Viacom had a return on equity of 21.71% and a net margin of 12.68%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 EPS. Analysts anticipate that Viacom, Inc. will post 4.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, September 13th. Viacom’s dividend payout ratio (DPR) is currently 19.42%.

VIAB has been the subject of several research reports. BMO Capital Markets lowered their target price on Viacom from $34.00 to $33.00 and set a “market perform” rating for the company in a report on Thursday, May 16th. TheStreet upgraded Viacom from a “c+” rating to a “b-” rating in a report on Friday, April 26th. BidaskClub upgraded Viacom from a “sell” rating to a “hold” rating in a report on Friday, July 5th. Finally, ValuEngine upgraded Viacom from a “strong sell” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $34.54.

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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Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

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