Cerity Partners LLC Has $1.29 Million Stock Holdings in Paramount Global (NASDAQ:PARA)

Cerity Partners LLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA) by 40.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 120,970 shares of the company’s stock after selling 83,160 shares during the period. Cerity Partners LLC’s holdings in Paramount Global were worth $1,285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Great Valley Advisor Group Inc. raised its position in shares of Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after acquiring an additional 1,002 shares during the last quarter. Carson Advisory Inc. raised its position in shares of Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after acquiring an additional 1,004 shares during the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Paramount Global by 13.2% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after acquiring an additional 1,011 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after acquiring an additional 1,067 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in shares of Paramount Global by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after acquiring an additional 1,356 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Down 0.5 %

Shares of NASDAQ:PARA opened at $10.92 on Wednesday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The company has a 50-day simple moving average of $10.71 and a 200 day simple moving average of $10.90. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate 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 was down 5.6% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Research analysts forecast that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.83%. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $11.00 in a research report on Friday, August 9th. 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. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark restated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Friday, August 9th. Finally, Macquarie restated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Eight research 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.40.

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.