Oppenheimer & Co. Inc. Sells 9,641 Shares of Paramount Global (NASDAQ:PARA)

Oppenheimer & Co. Inc. decreased its position in shares of Paramount Global (NASDAQ:PARA) by 22.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,388 shares of the company’s stock after selling 9,641 shares during the period. Oppenheimer & Co. Inc.’s holdings in Paramount Global were worth $339,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PARA. Charles Schwab Investment Management Inc. increased its position in shares of Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the period. Bridgewater Associates LP increased its position in shares of Paramount Global by 50.7% in the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after purchasing an additional 110,357 shares during the period. Franklin Resources Inc. increased its position in shares of Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 174,514 shares during the period. Wilsey Asset Management Inc. increased its position in shares of Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after purchasing an additional 265,408 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Paramount Global by 22.3% in the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock worth $7,258,000 after purchasing an additional 124,740 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $12.14 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 business’s 50 day simple moving average is $10.90 and its two-hundred day simple moving average is $10.77. The stock has a market capitalization of $8.10 billion, a P/E ratio of -1.48, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

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

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.65%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Wall Street Analysts Forecast Growth

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

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.