Grandview Asset Management LLC Sells 2,997 Shares of Paramount Global (NASDAQ:PARA)

Grandview Asset Management LLC lowered its holdings in shares of Paramount Global (NASDAQ:PARA) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 40,813 shares of the company’s stock after selling 2,997 shares during the period. Grandview Asset Management LLC’s holdings in Paramount Global were worth $433,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New Hampshire Trust grew its holdings in shares of Paramount Global by 6.2% during the 1st quarter. New Hampshire Trust now owns 15,767 shares of the company’s stock valued at $186,000 after purchasing an additional 914 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Paramount Global by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock valued at $291,000 after buying an additional 934 shares during the period. Great Valley Advisor Group Inc. boosted its position in 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 buying an additional 1,002 shares during the period. Prestige Wealth Management Group LLC boosted its position in 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 buying an additional 1,011 shares during the period. Finally, Personal CFO Solutions LLC boosted its position in Paramount Global by 2.4% during the 4th quarter. Personal CFO Solutions LLC now owns 43,468 shares of the company’s stock valued at $643,000 after buying an additional 1,030 shares during the period. Institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Friday, August 9th. Guggenheim dropped 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 report on Wednesday, September 25th. JPMorgan Chase & Co. dropped their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Finally, StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Thursday. Eleven analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.18.

Paramount Global Stock Up 0.7 %

NASDAQ:PARA traded up $0.07 on Friday, reaching $10.52. 5,154,125 shares of the stock traded hands, compared to its average volume of 16,029,692. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of -70.13, a PEG ratio of 0.58 and a beta of 1.75. The company has a current ratio of 1.30, a quick ratio of 1.15 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 $17.50. The company’s fifty day simple moving average is $10.61 and its 200 day simple moving average is $11.28.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. Equities analysts predict that Paramount Global will post 1.57 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.90%. Paramount Global’s dividend payout ratio is presently -133.32%.

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.