Oppenheimer & Co. Inc. Has $446,000 Stake in Paramount Global (NASDAQ:PARA)

Oppenheimer & Co. Inc. trimmed its position in Paramount Global (NASDAQ:PARA) by 53.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,029 shares of the company’s stock after selling 49,061 shares during the period. Oppenheimer & Co. Inc.’s holdings in Paramount Global were worth $446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its position in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares in the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Paramount Global in the 2nd quarter valued at about $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paramount Global in the second quarter valued at about $43,000. Kennebec Savings Bank bought a new stake in Paramount Global during the third quarter worth about $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in Paramount Global by 518.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after purchasing an additional 4,100 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PARA shares. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reaffirmed an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Finally, Guggenheim cut their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $12.40.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $11.11 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of -1.35, a P/E/G ratio of 1.25 and a beta of 1.74. The stock’s fifty day moving average price is $10.65 and its two-hundred day moving average price is $11.02. Paramount Global has a one year low of $9.54 and a one year high of $17.50.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. On average, equities analysts forecast that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is currently -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.