Gabelli Funds LLC lifted its holdings in Viacom Inc. (NASDAQ:VIAB) by 38.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 265,000 shares of the company’s stock after buying an additional 73,500 shares during the quarter. Gabelli Funds LLC owned about 0.07% of Viacom worth $7,378,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in VIAB. Vanguard Group Inc. increased its position in Viacom by 28.9% in the second quarter. Vanguard Group Inc. now owns 28,964,262 shares of the company’s stock worth $972,330,000 after purchasing an additional 6,496,269 shares during the period. BlackRock Inc. grew its position in shares of Viacom by 6.4% during the 2nd quarter. BlackRock Inc. now owns 22,863,371 shares of the company’s stock worth $767,522,000 after buying an additional 1,377,520 shares during the period. FMR LLC grew its position in shares of Viacom by 17.3% during the 2nd quarter. FMR LLC now owns 10,918,953 shares of the company’s stock worth $366,551,000 after buying an additional 1,607,844 shares during the period. Capital International Investors grew its position in shares of Viacom by 19.1% during the 2nd quarter. Capital International Investors now owns 7,343,721 shares of the company’s stock worth $246,529,000 after buying an additional 1,178,200 shares during the period. Finally, Oldfield Partners LLP acquired a new position in shares of Viacom during the 2nd quarter worth about $153,511,000. 79.38% of the stock is owned by institutional investors and hedge funds.
Shares of Viacom Inc. (NASDAQ VIAB) opened at $24.89 on Friday. The firm has a market capitalization of $10,009.49, a PE ratio of 6.75, a PEG ratio of 0.86 and a beta of 1.54. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.35 and a quick ratio of 1.11. Viacom Inc. has a one year low of $22.88 and a one year high of $46.72.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.21%. Viacom’s payout ratio is 21.98%.
Several equities research analysts have commented on VIAB shares. Royal Bank Of Canada restated an “underperform” rating and issued a $30.00 target price (down previously from $35.00) on shares of Viacom in a research note on Wednesday, August 9th. B. Riley restated a “neutral” rating on shares of Viacom in a research note on Wednesday, November 1st. BMO Capital Markets restated a “market perform” rating and issued a $35.00 target price (down previously from $42.00) on shares of Viacom in a research note on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $43.00 target price (down previously from $52.00) on shares of Viacom in a research note on Wednesday, August 9th. Finally, Credit Suisse Group set a $38.00 target price on Viacom and gave the company a “buy” rating in a research note on Wednesday, November 1st. Eight investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $38.85.
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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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