Commonwealth Equity Services LLC Sells 23,454 Shares of Paramount Global (NASDAQ:PARA)

Commonwealth Equity Services LLC cut its holdings in shares of Paramount Global (NASDAQ:PARA) by 13.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 144,764 shares of the company’s stock after selling 23,454 shares during the period. Commonwealth Equity Services LLC’s holdings in Paramount Global were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC raised its holdings in Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after buying an additional 1,606,779 shares during the period. Lingotto Investment Management LLP lifted its stake in Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after buying an additional 1,593,579 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Paramount Global by 24.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after buying an additional 908,515 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of Paramount Global by 48.1% during the fourth quarter. Allianz Asset Management GmbH now owns 2,425,849 shares of the company’s stock worth $25,374,000 after acquiring an additional 787,516 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Trading Down 1.0 %

NASDAQ PARA opened at $11.56 on Friday. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average of $11.28 and a 200-day moving average of $10.89. The company has a market cap of $7.71 billion, a PE ratio of -1.41, a PEG ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, equities research analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is currently -2.15%.

Wall Street Analyst Weigh In

PARA has been the topic of several research reports. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com began coverage on Paramount Global in a research report on Sunday. They issued a “hold” rating on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently 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.