Paramount Global (NASDAQ:PARA) Shares Sold by abrdn plc

abrdn plc lowered its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 13.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 850,747 shares of the company's stock after selling 133,212 shares during the quarter. abrdn plc owned approximately 0.13% of Paramount Global worth $9,039,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Paramount Global by 3.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company's stock valued at $291,000 after purchasing an additional 934 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in shares of Paramount Global by 21.6% in the 1st quarter. Kovack Advisors Inc. now owns 14,118 shares of the company's stock valued at $166,000 after purchasing an additional 2,508 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Paramount Global by 19.5% in the 1st quarter. Private Advisor Group LLC now owns 56,535 shares of the company's stock valued at $665,000 after purchasing an additional 9,211 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Paramount Global by 20.5% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,905 shares of the company's stock valued at $211,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Paramount Global by 14.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 48,621 shares of the company's stock valued at $572,000 after purchasing an additional 6,151 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

Paramount Global Stock Up 0.4 %

Shares of PARA traded up $0.04 during midday trading on Friday, hitting $10.98. The company had a trading volume of 6,577,430 shares, compared to its average volume of 5,352,271. The company's 50 day moving average price is $10.47 and its 200 day moving average price is $11.13. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of -1.41, a PEG ratio of 1.64 and a beta of 1.74. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. On average, equities research analysts predict that Paramount Global will post 1.61 EPS for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global's dividend payout ratio (DPR) is -2.57%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating on the stock in a report on Thursday, August 15th. Wolfe Research lowered shares of Paramount Global from a "peer perform" rating to an "underperform" rating and set a $10.00 target price on the stock. in a report on Tuesday, July 9th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Friday, August 9th. Guggenheim reduced their target price on shares of Paramount Global from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Finally, StockNews.com lowered shares of Paramount Global from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $12.33.

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.