State of New Jersey Common Pension Fund D increased its position in Viacom Inc. (NASDAQ:VIAB) by 83.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,200,000 shares of the company’s stock after acquiring an additional 1,000,000 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.55% of Viacom worth $61,248,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in VIAB. Fifth Third Bancorp grew its position in Viacom by 9.4% in the 1st quarter. Fifth Third Bancorp now owns 2,616 shares of the company’s stock valued at $122,000 after buying an additional 225 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Viacom in the 2nd quarter valued at about $108,000. First Personal Financial Services grew its position in Viacom by 5.9% in the 2nd quarter. First Personal Financial Services now owns 3,268 shares of the company’s stock valued at $110,000 after buying an additional 182 shares in the last quarter. First Mercantile Trust Co. grew its position in Viacom by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 3,428 shares of the company’s stock valued at $115,000 after buying an additional 54 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Viacom by 13.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,686 shares of the company’s stock valued at $124,000 after buying an additional 423 shares in the last quarter. 79.38% of the stock is currently owned by institutional investors and hedge funds.
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Viacom Inc. (VIAB) opened at $24.89 on Friday. The firm has a market cap of $10,340.00, a P/E ratio of 6.72, a P/E/G ratio of 0.85 and a beta of 1.53. The company has a current ratio of 1.35, a quick ratio of 1.11 and a debt-to-equity ratio of 2.03. Viacom Inc. has a 52-week low of $22.88 and a 52-week high of $46.72.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.21%. Viacom’s payout ratio is presently 22.10%.
VIAB has been the subject of a number of recent analyst reports. Citigroup Inc. lowered shares of Viacom from a “neutral” rating to a “sell” rating and decreased their target price for the company from $33.00 to $24.00 in a research report on Monday, October 9th. Wells Fargo & Company lowered shares of Viacom from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 5th. Morgan Stanley decreased their target price on shares of Viacom from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 13th. Jefferies Group LLC restated a “buy” rating and set a $52.00 price objective on shares of Viacom in a research report on Thursday, August 3rd. Finally, BMO Capital Markets restated a “hold” rating and set a $30.00 price objective on shares of Viacom in a research report on Wednesday, October 18th. Eight research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $38.85.
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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