IPG Investment Advisors LLC Reduces Holdings in Paramount Global (NASDAQ:PARA)

IPG Investment Advisors LLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 35.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 556,200 shares of the company's stock after selling 306,576 shares during the period. Paramount Global comprises approximately 1.3% of IPG Investment Advisors LLC's holdings, making the stock its 21st largest position. IPG Investment Advisors LLC owned about 0.08% of Paramount Global worth $5,848,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Paramount Global by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock valued at $80,993,000 after acquiring an additional 348,298 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Paramount Global by 50.7% in the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock worth $3,484,000 after purchasing an additional 110,357 shares in the last quarter. Franklin Resources Inc. boosted its stake in Paramount Global by 824.1% in the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after purchasing an additional 174,514 shares during the period. Wilsey Asset Management Inc. boosted its stake in Paramount Global by 16.2% in the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock worth $19,898,000 after purchasing an additional 265,408 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock valued at $47,973,000 after buying an additional 908,515 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of research firms recently commented on PARA. Benchmark reiterated a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reissued a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft lowered shares of 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. Finally, Morgan Stanley upped their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. 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 company. According to MarketBeat.com, Paramount Global currently has an average rating of "Hold" and a consensus price target of $12.09.

Paramount Global Trading Up 1.4 %

Paramount Global stock traded up $0.17 during midday trading on Wednesday, hitting $11.90. 9,123,634 shares of the stock were exchanged, compared to its average volume of 12,472,662. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock's 50-day simple moving average is $11.34 and its 200 day simple moving average is $10.92. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.60.

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

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is currently -2.15%.

Paramount Global Company 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.