Truist Financial Corp Has $314,000 Stake in Paramount Global (NASDAQ:PARA)

Truist Financial Corp lowered its stake in shares of Paramount Global (NASDAQ:PARA) by 48.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 30,057 shares of the company’s stock after selling 28,098 shares during the period. Truist Financial Corp’s holdings in Paramount Global were worth $314,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PARA. Allworth Financial LP raised its stake in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. Huntington National Bank increased its holdings in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares during the period. Kennebec Savings Bank acquired a new position in shares of Paramount Global in the 3rd quarter valued at $47,000. FNY Investment Advisers LLC lifted its holdings in shares of Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after acquiring an additional 3,654 shares during the period. Finally, Synergy Asset Management LLC acquired a new stake in shares of Paramount Global during the 4th quarter valued at about $88,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of PARA stock opened at $11.51 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of -1.40, a PEG ratio of 1.68 and a beta of 1.69. The stock has a 50-day moving average price of $10.85 and a 200 day moving average price of $10.76.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Research analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.74%. Paramount Global’s dividend payout ratio is presently -2.15%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PARA. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley boosted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Macquarie reiterated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. Finally, Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.10.

Paramount Global 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.