Robeco Institutional Asset Management B.V. cut its stake in shares of Viacom, Inc. (NASDAQ:VIAB) by 4.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,254,612 shares of the company’s stock after selling 60,637 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.31% of Viacom worth $37,480,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of VIAB. Cullen Frost Bankers Inc. acquired a new stake in shares of Viacom during the first quarter worth $30,000. Advisory Services Network LLC lifted its holdings in Viacom by 189.2% in the fourth quarter. Advisory Services Network LLC now owns 1,605 shares of the company’s stock valued at $41,000 after acquiring an additional 1,050 shares during the period. CENTRAL TRUST Co lifted its holdings in Viacom by 98.8% in the first quarter. CENTRAL TRUST Co now owns 1,720 shares of the company’s stock valued at $48,000 after acquiring an additional 855 shares during the period. Bremer Bank National Association acquired a new stake in Viacom in the first quarter valued at $50,000. Finally, Meridian Wealth Management LLC acquired a new stake in Viacom in the second quarter valued at $60,000. 79.96% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on VIAB. BidaskClub raised Viacom from a “sell” rating to a “hold” rating in a report on Friday, July 5th. BMO Capital Markets reduced 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. Royal Bank of Canada raised Viacom from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $31.00 to $36.00 in a report on Thursday, April 4th. TheStreet raised Viacom from a “c+” rating to a “b-” rating in a report on Friday, April 26th. Finally, ValuEngine downgraded Viacom from a “sell” rating to a “strong sell” rating in a report on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $34.54.
Viacom (NASDAQ:VIAB) last announced its quarterly earnings results on Friday, May 10th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.15. Viacom had a return on equity of 22.60% and a net margin of 12.63%. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter last year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. On average, equities analysts forecast that Viacom, Inc. will post 4.03 EPS for the current fiscal year.
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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