Paramount Global (NASDAQ:PARA) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC decreased its holdings in Paramount Global (NASDAQ:PARA) by 7.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,858 shares of the company’s stock after selling 6,538 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Paramount Global were worth $867,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Lingotto Investment Management LLP boosted its position in shares of Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock worth $468,120,000 after purchasing an additional 1,593,579 shares in the last quarter. State Street Corp boosted its position in shares of Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Paramount Global by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after purchasing an additional 1,606,779 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Paramount Global by 16.2% in the 3rd 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Paramount Global by 24.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after purchasing an additional 908,515 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

PARA has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Guggenheim reissued a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley boosted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.10.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $12.00 on Tuesday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The business has a 50-day moving average price of $10.97 and a 200 day moving average price of $10.78. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm has a market cap of $8.00 billion, a PE ratio of -1.46, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Sell-side analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio is currently -2.15%.

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.