Great West Life Assurance Co. Can Boosts Stake in Viacom, Inc. (VIAB)

Great West Life Assurance Co. Can Boosts Stake in Viacom, Inc. (VIAB)

Great West Life Assurance Co. Can increased its stake in Viacom, Inc. (NASDAQ:VIAB) by 0.8% during the first quarter, Holdings Channel reports. The firm owned 373,469 shares of the company’s stock after buying an additional 2,936 shares during the period. Great West Life Assurance Co. Can owned approximately 0.09% of Viacom worth $17,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Viacom by 3.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,874 shares of the company’s stock valued at $2,605,000 after buying an additional 2,056 shares during the period. Advisor Partners LLC bought a new position in shares of Viacom during the first quarter valued at about $213,000. Jennison Associates LLC increased its position in shares of Viacom by 40.1% in the first quarter. Jennison Associates LLC now owns 2,621,864 shares of the company’s stock valued at $122,231,000 after buying an additional 750,874 shares during the period. Arete Wealth Advisors LLC bought a new position in shares of Viacom during the first quarter valued at about $592,000. Finally, Canada Pension Plan Investment Board increased its position in shares of Viacom by 249.9% in the first quarter. Canada Pension Plan Investment Board now owns 187,975 shares of the company’s stock valued at $8,763,000 after buying an additional 134,255 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.

Viacom, Inc. (NASDAQ:VIAB) traded up 0.99% during mid-day trading on Friday, reaching $36.82. The company had a trading volume of 8,939,374 shares. Viacom, Inc. has a one year low of $33.94 and a one year high of $46.72. The firm has a market capitalization of $14.61 billion, a P/E ratio of 10.57 and a beta of 1.33. The firm’s 50-day moving average is $43.48 and its 200-day moving average is $40.35.

Viacom (NASDAQ:VIAB) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.20. The firm earned $3.26 billion during the quarter, compared to the consensus estimate of $3.03 billion. Viacom had a return on equity of 33.25% and a net margin of 10.94%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, equities research analysts anticipate that Viacom, Inc. will post $3.85 earnings per share for the current fiscal year.

A number of research analysts have issued reports on VIAB shares. BMO Capital Markets restated a “market perform” rating and set a $42.00 target price (down from $44.00) on shares of Viacom in a research report on Friday. Royal Bank of Canada cut their target price on shares of Viacom from $35.00 to $30.00 and set an “underperform” rating on the stock in a research report on Friday. Pivotal Research restated a “hold” rating and set a $40.00 target price on shares of Viacom in a research report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and set a $52.00 target price on shares of Viacom in a research report on Monday, April 17th. Finally, Rosenblatt Securities restated an “underweight” rating on shares of Viacom in a research report on Friday, April 14th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $43.85.

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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