Paramount Global (NASDAQ:PARA) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC cut its stake in Paramount Global (NASDAQ:PARA) by 33.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,954 shares of the company’s stock after selling 12,859 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Paramount Global were worth $305,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Thompson Investment Management Inc. boosted its position in shares of Paramount Global by 42.9% in the first quarter. Thompson Investment Management Inc. now owns 655,680 shares of the company’s stock worth $7,717,000 after acquiring an additional 196,699 shares during the last quarter. Metropolis Capital Ltd boosted its position in shares of Paramount Global by 0.6% in the first quarter. Metropolis Capital Ltd now owns 1,031,777 shares of the company’s stock worth $12,144,000 after acquiring an additional 6,219 shares during the last quarter. Foundation Resource Management Inc. boosted its position in shares of Paramount Global by 3.4% in the first quarter. Foundation Resource Management Inc. now owns 1,101,664 shares of the company’s stock worth $12,967,000 after acquiring an additional 36,382 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in shares of Paramount Global by 104.0% in the first quarter. Banque Cantonale Vaudoise now owns 102,932 shares of the company’s stock worth $1,212,000 after acquiring an additional 52,471 shares during the last quarter. Finally, Welch Group LLC acquired a new stake in shares of Paramount Global in the first quarter worth approximately $142,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Trading Up 1.3 %

PARA opened at $10.39 on Friday. The stock has a market capitalization of $6.92 billion, a PE ratio of -69.27, a P/E/G ratio of 0.30 and a beta of 1.78. The firm’s fifty day moving average price is $11.75 and its 200 day moving average price is $12.46. 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 has a 12-month low of $9.54 and a 12-month high of $17.50.

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

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.92%. Paramount Global’s payout ratio is -133.33%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reissued a “neutral” rating and issued a $14.00 target price on shares of Paramount Global in a research report on Tuesday, June 4th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. The Goldman Sachs Group began coverage on shares of Paramount Global in a report on Tuesday. They issued a “sell” rating and a $9.50 price target on the stock. Finally, Benchmark restated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Tuesday, April 30th. Ten analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Paramount Global currently has an average rating of “Hold” and an average target price of $13.29.

About Paramount Global

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.