Paramount Global (NASDAQ:PARA) Shares Sold by US Bancorp DE

US Bancorp DE cut its holdings in Paramount Global (NASDAQ:PARA) by 44.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,038 shares of the company’s stock after selling 12,220 shares during the quarter. US Bancorp DE’s holdings in Paramount Global were worth $160,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PARA. Blue Trust Inc. increased its position in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after purchasing an additional 1,573 shares during the period. Atlas Capital Advisors LLC acquired a new stake in shares of Paramount Global in the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the 2nd quarter valued at approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Paramount Global by 518.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after purchasing an additional 4,100 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in Paramount Global during the first quarter worth $56,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $10.84 on Friday. 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 company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 1.38 and a beta of 1.74. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The business has a 50 day simple moving average of $10.61 and a 200-day simple moving average of $11.08.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period last year, the firm posted $0.30 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities research analysts expect that Paramount Global will post 1.81 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

Analysts Set New Price Targets

PARA has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Macquarie reiterated an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim lowered their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. cut their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Eight equities 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.40.

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.