Ballentine Partners LLC Has $291,000 Stake in Paramount Global (NASDAQ:PARA)

Ballentine Partners LLC lessened its holdings in shares of Paramount Global (NASDAQ:PARA) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,759 shares of the company’s stock after selling 1,584 shares during the period. Ballentine Partners LLC’s holdings in Paramount Global were worth $291,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PARA. VisionPoint Advisory Group LLC acquired a new stake in Paramount Global during the third quarter worth approximately $25,000. Anchor Investment Management LLC bought a new position in shares of Paramount Global in the fourth quarter worth $30,000. Archer Investment Corp acquired a new position in Paramount Global in the fourth quarter valued at about $30,000. Friedenthal Financial bought a new stake in Paramount Global during the fourth quarter worth about $39,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Paramount Global in the 4th quarter valued at about $44,000. 73.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PARA shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Raymond James restated a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Morgan Stanley lowered their target price on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, February 27th. The Goldman Sachs Group started coverage on shares of Paramount Global in a research report on Tuesday. They set a “sell” rating and a $9.50 price objective for the company. Finally, Wells Fargo & Company lowered Paramount Global from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $14.00 to $9.00 in a research report on Wednesday, June 12th. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.29.

Paramount Global Stock Down 1.7 %

Shares of Paramount Global stock opened at $10.11 on Wednesday. The stock’s 50-day moving average is $11.83 and its 200 day moving average is $12.54. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of -67.40, a PEG ratio of 0.31 and a beta of 1.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.34 by $0.28. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.09 EPS. Equities research analysts anticipate that Paramount Global will post 1.32 EPS for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.98%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

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.