Viacom (NASDAQ:VIA) Trading Down 5.6%

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Viacom, Inc. (NASDAQ:VIA)’s stock price dropped 5.6% during mid-day trading on Tuesday . The company traded as low as $29.20 and last traded at $30.75, approximately 728,227 shares were traded during trading. An increase of 1,595% from the average daily volume of 42,963 shares. The stock had previously closed at $32.56.

VIA has been the topic of a number of research analyst reports. TheStreet raised Viacom from a “c+” rating to a “b-” rating in a report on Wednesday, April 24th. BidaskClub downgraded Viacom from a “hold” rating to a “sell” rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $34.00.

The stock’s fifty day moving average price is $35.04. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.15 and a current ratio of 1.36. The stock has a market capitalization of $12.39 billion, a P/E ratio of 8.04 and a beta of 1.25.

Viacom (NASDAQ:VIA) last posted its earnings results on Friday, May 10th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.14. Viacom had a return on equity of 21.71% and a net margin of 12.68%. The company had revenue of $2.96 billion for the quarter.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Friday, September 13th.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Viacom by 42.1% in the fourth quarter. BlackRock Inc. now owns 299,537 shares of the company’s stock valued at $8,331,000 after acquiring an additional 88,801 shares during the period. Bank of America Corp DE increased its position in Viacom by 74.6% in the fourth quarter. Bank of America Corp DE now owns 61,307 shares of the company’s stock worth $1,704,000 after buying an additional 26,190 shares in the last quarter. GHP Investment Advisors Inc. purchased a new stake in Viacom in the first quarter worth about $236,000. FMR LLC increased its position in Viacom by 0.6% in the fourth quarter. FMR LLC now owns 1,251,110 shares of the company’s stock worth $34,794,000 after buying an additional 7,798 shares in the last quarter. Finally, Millennium Management LLC increased its position in Viacom by 4.1% in the fourth quarter. Millennium Management LLC now owns 25,686 shares of the company’s stock worth $714,000 after buying an additional 1,003 shares in the last quarter. 1.93% of the stock is currently owned by institutional investors.

Viacom Company Profile (NASDAQ:VIA)

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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