Stifel Financial Corp cut its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 32.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 265,470 shares of the company's stock after selling 130,286 shares during the period. Stifel Financial Corp's holdings in Paramount Global were worth $2,819,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates raised its holdings in Paramount Global by 11.6% in the second quarter. Raymond James & Associates now owns 387,643 shares of the company's stock valued at $4,028,000 after buying an additional 40,362 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Paramount Global by 27.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 139,467 shares of the company's stock valued at $1,456,000 after acquiring an additional 29,967 shares in the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Paramount Global during the 2nd quarter worth $269,000. Chevy Chase Trust Holdings LLC increased its holdings in Paramount Global by 0.9% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 270,021 shares of the company's stock valued at $2,806,000 after purchasing an additional 2,466 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Paramount Global by 66.3% in the 2nd quarter. Fifth Third Bancorp now owns 28,331 shares of the company's stock valued at $294,000 after purchasing an additional 11,295 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.
Paramount Global Stock Down 1.2 %
Shares of PARA traded down $0.13 during midday trading on Wednesday, hitting $10.68. The company had a trading volume of 12,258,479 shares, compared to its average volume of 14,546,458. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52 week low of $9.54 and a 52 week high of $16.28. The company's 50 day moving average price is $10.83 and its 200 day moving average price is $10.83. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of -1.30, a PEG ratio of 1.35 and a beta of 1.71.
Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share 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 during the quarter, compared to analyst estimates of $6.94 billion. During the same period in the previous year, the company earned $0.30 earnings per share. Paramount Global's quarterly revenue was down 5.6% on a year-over-year basis. On average, equities research analysts predict that Paramount Global will post 1.86 EPS for the current year.
Paramount Global Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global's dividend payout ratio is currently -2.43%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on PARA shares. StockNews.com upgraded Paramount Global from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Macquarie reissued an "underperform" rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Guggenheim lowered their price objective on shares of Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Monday, November 11th. Seven analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Paramount Global currently has a consensus rating of "Hold" and an average target price of $12.43.
View Our Latest Research Report on PARA
Paramount Global Company Profile
(
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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