Alliancebernstein L.P. Reduces Stock Holdings in Paramount Global (NASDAQ:PARA)

Alliancebernstein L.P. cut its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 639,786 shares of the company's stock after selling 62,657 shares during the period. Alliancebernstein L.P. owned approximately 0.10% of Paramount Global worth $6,692,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PARA. Allworth Financial LP lifted its holdings in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global in the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. boosted its holdings in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock valued at $32,000 after buying an additional 2,019 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Paramount Global during the fourth quarter worth $57,000. Finally, FNY Investment Advisers LLC raised its holdings in shares of Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock worth $75,000 after acquiring an additional 3,654 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PARA shares. StockNews.com assumed coverage on shares of Paramount Global in a research note on Tuesday. They issued a "hold" rating for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. UBS Group dropped their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research report on Wednesday, April 2nd. Finally, Guggenheim reiterated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $11.92.

Paramount Global Price Performance

Shares of NASDAQ PARA traded up $0.06 during midday trading on Thursday, reaching $10.77. The company's stock had a trading volume of 1,204,232 shares, compared to its average volume of 11,492,949. The business's 50 day moving average price is $11.36 and its two-hundred day moving average price is $10.95. The company has a market cap of $7.18 billion, a P/E ratio of -1.30, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.86%. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.

Paramount Global Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.