Viacom, Inc. (VIAB) Holdings Trimmed by First Manhattan Co.

First Manhattan Co. lessened its position in shares of Viacom, Inc. (NASDAQ:VIAB) by 17.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 196,786 shares of the company’s stock after selling 40,937 shares during the quarter. First Manhattan Co.’s holdings in Viacom were worth $6,643,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in VIAB. Bank of Montreal Can lifted its holdings in shares of Viacom by 33.0% in the 3rd quarter. Bank of Montreal Can now owns 268,485 shares of the company’s stock worth $9,064,000 after purchasing an additional 66,546 shares in the last quarter. Manning & Napier Group LLC lifted its holdings in shares of Viacom by 13.5% in the 3rd quarter. Manning & Napier Group LLC now owns 59,527 shares of the company’s stock worth $2,009,000 after purchasing an additional 7,083 shares in the last quarter. Lourd Capital LLC bought a new position in shares of Viacom in the 3rd quarter worth $257,000. Atria Investments LLC bought a new position in shares of Viacom in the 3rd quarter worth $288,000. Finally, Denali Advisors LLC lifted its holdings in shares of Viacom by 16.0% in the 3rd quarter. Denali Advisors LLC now owns 379,100 shares of the company’s stock worth $12,798,000 after purchasing an additional 52,400 shares in the last quarter. 79.02% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on VIAB. ValuEngine upgraded Viacom from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub upgraded Viacom from a “hold” rating to a “buy” rating in a report on Friday. B. Riley upgraded Viacom from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $39.00 in a report on Wednesday, September 26th. Zacks Investment Research cut Viacom from a “buy” rating to a “hold” rating in a report on Monday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $34.00 target price on shares of Viacom in a report on Monday. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $34.70.

Shares of NASDAQ:VIAB opened at $33.73 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.41 and a debt-to-equity ratio of 1.42. Viacom, Inc. has a 1-year low of $22.13 and a 1-year high of $35.55. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of 8.95, a P/E/G ratio of 1.26 and a beta of 1.48.

Viacom (NASDAQ:VIAB) last issued its quarterly earnings data on Thursday, August 9th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.11. Viacom had a return on equity of 23.53% and a net margin of 15.65%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.27 billion. During the same period last year, the business earned $1.17 EPS. The business’s revenue was down 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Viacom, Inc. will post 4.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, September 14th. Viacom’s dividend payout ratio is presently 21.22%.

About Viacom

Viacom, Inc operates media brands that create entertainment content worldwide. The company creates television programs, motion pictures, short-form content, games, consumer products, podcasts, live events, and social media experiences. It operates through two segments, Media Networks and Filmed Entertainment.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Institutional Ownership by Quarter for Viacom (NASDAQ:VIAB)

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