Viacom (VIAB) Given Market Perform Rating at Wells Fargo & Co
Wells Fargo & Co reiterated their market perform rating on shares of Viacom (NASDAQ:VIAB) in a research report sent to investors on Thursday, January 4th, The Fly reports. Wells Fargo & Co currently has a $32.00 price target on the stock, up from their prior price target of $25.00.
A number of other analysts also recently weighed in on the company. Citigroup downgraded Viacom from a neutral rating to a sell rating and decreased their price target for the company from $33.00 to $24.00 in a research note on Monday, October 9th. Morgan Stanley decreased their price target on Viacom from $42.00 to $38.00 and set an overweight rating on the stock in a research note on Friday, October 13th. BMO Capital Markets restated a hold rating and issued a $30.00 price target on shares of Viacom in a research note on Wednesday, October 18th. Deutsche Bank decreased their price target on Viacom to $25.00 and set a sell rating on the stock in a research note on Monday, October 23rd. Finally, Barclays set a $32.00 price target on Viacom and gave the company a hold rating in a research note on Friday, October 20th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company’s stock. Viacom presently has a consensus rating of Hold and a consensus price target of $35.07.
Viacom (NASDAQ VIAB) traded down $0.38 during trading on Thursday, hitting $33.71. The company had a trading volume of 3,949,180 shares, compared to its average volume of 5,420,000. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.30 and a current ratio of 1.55. Viacom has a 12-month low of $22.13 and a 12-month high of $46.72. The stock has a market capitalization of $13,830.00, a P/E ratio of 7.23, a PEG ratio of 1.18 and a beta of 1.60.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.37%. Viacom’s dividend payout ratio (DPR) is 17.17%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farmers Trust Co. raised its holdings in shares of Viacom by 36.8% in the fourth quarter. Farmers Trust Co. now owns 82,622 shares of the company’s stock worth $2,546,000 after acquiring an additional 22,237 shares during the last quarter. Exane Derivatives grew its position in shares of Viacom by 63.3% in the fourth quarter. Exane Derivatives now owns 15,854 shares of the company’s stock valued at $488,000 after purchasing an additional 6,147 shares during the period. Parsec Financial Management Inc. purchased a new stake in shares of Viacom in the fourth quarter valued at $1,574,000. Eqis Capital Management Inc. purchased a new stake in shares of Viacom in the fourth quarter valued at $2,935,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Viacom by 64.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 157,360 shares of the company’s stock valued at $4,859,000 after purchasing an additional 61,841 shares during the period. 79.26% of the stock is owned by institutional investors.
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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