Corient Private Wealth LLC trimmed its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 39.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,968 shares of the company's stock after selling 27,664 shares during the period. Corient Private Wealth LLC's holdings in Paramount Global were worth $449,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the company. Allworth Financial LP lifted its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after acquiring an additional 1,395 shares during the period. Rakuten Securities Inc. raised its holdings in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after purchasing an additional 2,019 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Paramount Global in the 4th quarter worth about $57,000. FNY Investment Advisers LLC lifted its position in shares of Paramount Global by 102.4% in the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock worth $75,000 after purchasing an additional 3,654 shares during the period. Finally, Synergy Asset Management LLC bought a new stake in shares of Paramount Global during the 4th quarter valued at about $88,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PARA has been the subject of a number of research reports. StockNews.com began coverage on shares of Paramount Global in a research note on Sunday. They issued a "hold" rating for the company. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reiterated a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft lowered Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research report on Wednesday. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $12.09.
View Our Latest Report on PARA
Paramount Global Stock Down 0.4 %
Shares of PARA traded down $0.05 on Wednesday, hitting $11.69. 1,190,276 shares of the stock traded hands, compared to its average volume of 12,443,541. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a market capitalization of $7.79 billion, a PE ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. The business has a 50 day simple moving average of $11.34 and a 200 day simple moving average of $10.92. 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 (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share 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 the consensus estimate of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.
Paramount Global Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.71%. Paramount Global's payout ratio is -2.15%.
About Paramount Global
(
Free Report)
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.
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