Economy

Trader's Buzzers - FireEye Inc (NASDAQ:FEYE), Viacom, Inc. (NASDAQ:VIAB)

Trader's Buzzers - FireEye Inc (NASDAQ:FEYE), Viacom, Inc. (NASDAQ:VIAB)”

Foster & Motley Inc. cut its stake in shares of Viacom Inc. (NASDAQ:VIAB) by 15.6% during the second quarter, Holdings Channel reports. 3,595,115 shares of the stock were exchanged.

Other large investors have also recently added to or reduced their stakes in the company.

Tiaa Cref Investment Management Llc, which manages about $134.07 billion US Long portfolio, decreased its stake in Verint Systems Inc (NASDAQ:VRNT) by 10,543 shares to 307,833 shares, valued at $10.85M in 2016Q4, according to the filing. Finally, Alliancebernstein L.P. increased its position in shares of Viacom by 304.9% in the first quarter. Gulf International Bank UK Ltd now owns 106,981 shares of the company's stock worth $4,987,000 after buying an additional 1,600 shares in the last quarter.

Commenting on the results, CEO Bob Bakish said, "In the third quarter, Viacom strengthened its top line, with growth in advertising and affiliate revenues and gains across its Filmed Entertainment segment, while continuing to execute on a strategic plan to reinvigorate our brands, break down silos, deepen our relationships with business partners and reposition Paramount for the future". National Pension Service now owns 318,187 shares of the company's stock valued at $14,751,000 after buying an additional 19,285 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Viacom by 1.5% in the first quarter. FMR LLC now owns 9,311,109 shares of the company's stock valued at $434,084,000 after buying an additional 2,467,925 shares during the last quarter. After a recent check, Viacom, Inc.

Viacom (VIAB) traded up 3.300% during mid-day trading on Thursday, hitting $35.215. The firm has a market cap of $13.84 billion, a PE ratio of 11.39 and a beta of 1.57. The share price has moved backward from its 20 days moving average -4.21% and negatively from its 50 days moving average -3.55%.

Viacom posted earnings per share of $1.17 for its fiscal third quarter, ended June 30, beating the consensus estimate of $1.05 per share. The business had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $3.03 billion.

On 2/6/2017 Viacom announced a quarterly dividend of $0.20 1.92% with an ex dividend date of 3/13/2017 which will be payable on 4/3/2017. During the same period in the previous year, the company earned $0.76 earnings per share.

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VIAB has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated an "underweight" rating on shares of Viacom in a report on Friday, April 14th. They set a "neutral" rating and a $45.00 price objective for the company. Jefferies Group LLC reissued a "buy" rating and issued a $52.00 target price on shares of Viacom in a research note on Monday, April 17th. Finally, BMO Capital Markets cut their target price on shares of Viacom from $44.00 to $42.00 and set a "market perform" rating on the stock in a report on Monday, May 15th. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. The company now has a consensus rating of "Hold" and an average target price of $43.14.



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