Oppenheimer & Co. Inc. Sells 49,061 Shares of Paramount Global (NASDAQ:PARA)

Oppenheimer & Co. Inc. lowered its stake in Paramount Global (NASDAQ:PARA - Free Report) by 53.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,029 shares of the company's stock after selling 49,061 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Paramount Global were worth $446,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its position in shares of Paramount Global by 46.0% during the 3rd quarter. GSA Capital Partners LLP now owns 87,924 shares of the company's stock valued at $934,000 after acquiring an additional 27,709 shares during the last quarter. Entropy Technologies LP boosted its position in shares of Paramount Global by 28.6% during the 3rd quarter. Entropy Technologies LP now owns 71,492 shares of the company's stock valued at $759,000 after acquiring an additional 15,900 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Paramount Global during the 3rd quarter valued at about $47,000. State of New Jersey Common Pension Fund D boosted its position in shares of Paramount Global by 14.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 231,127 shares of the company's stock valued at $2,455,000 after acquiring an additional 29,057 shares during the last quarter. Finally, Carson Advisory Inc. boosted its position in shares of Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company's stock valued at $577,000 after acquiring an additional 1,004 shares during the last quarter. Institutional investors own 73.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PARA. Wells Fargo & Company upgraded Paramount Global from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $10.00 to $11.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a research report on Thursday, August 15th. Macquarie restated an "underperform" rating and issued a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Benchmark restated a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Finally, Guggenheim dropped their target price on Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Paramount Global currently has a consensus rating of "Hold" and a consensus price target of $12.40.

Paramount Global Stock Performance

Paramount Global stock traded up $0.01 during trading hours on Friday, reaching $11.10. The company had a trading volume of 5,475,266 shares, compared to its average volume of 14,761,503. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a 50-day moving average price of $10.65 and a 200 day moving average price of $11.02.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $6.73 billion for the quarter, compared to analysts' expectations of $6.94 billion. During the same period in the previous year, the firm earned $0.30 earnings per share. The business's revenue was down 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.80%. Paramount Global's dividend payout ratio (DPR) is presently -2.43%.

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.