Paramount Global (NASDAQ:PARA) Position Lessened by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. trimmed its position in shares of Paramount Global (NASDAQ:PARA) by 24.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,200 shares of the company’s stock after selling 3,855 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Paramount Global were worth $181,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. raised its holdings in Paramount Global by 5.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after buying an additional 769 shares in the last quarter. Highlander Capital Management LLC raised its holdings in Paramount Global by 13.4% during the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after buying an additional 850 shares in the last quarter. Kestra Private Wealth Services LLC raised its holdings in Paramount Global by 3.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock valued at $431,000 after buying an additional 879 shares in the last quarter. Arizona State Retirement System raised its holdings in Paramount Global by 0.7% during the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after buying an additional 887 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its stake in shares of Paramount Global by 5.2% in the fourth quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock worth $266,000 after purchasing an additional 889 shares during the period. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.39 on Friday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The firm has a 50 day moving average of $11.75 and a 200-day moving average of $12.46. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $6.92 billion, a P/E ratio of -69.27, a price-to-earnings-growth ratio of 0.30 and a beta of 1.78.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter in the previous year, the company posted $0.09 earnings per share. Paramount Global’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is currently -133.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PARA shares. Argus lowered Paramount Global from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. dropped their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. The Goldman Sachs Group started coverage on Paramount Global in a research note on Tuesday. They issued a “sell” rating and a $9.50 price objective on the stock. Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Finally, Seaport Res Ptn lowered Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Ten equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.29.

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.