Valley National Advisers Inc. Has $435,000 Stock Position in Paramount Global (NASDAQ:PARA)

Valley National Advisers Inc. decreased its stake in Paramount Global (NASDAQ:PARA) by 4.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,414 shares of the company’s stock after selling 1,364 shares during the quarter. Valley National Advisers Inc.’s holdings in Paramount Global were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Captrust Financial Advisors acquired a new stake in Paramount Global during the 2nd quarter worth about $767,000. Marshall Wace LLP acquired a new stake in Paramount Global during the 3rd quarter worth about $3,099,000. Two Sigma Investments LP acquired a new stake in Paramount Global during the 3rd quarter worth about $4,764,000. Thrivent Financial for Lutherans acquired a new stake in Paramount Global during the 3rd quarter worth about $2,288,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Paramount Global during the 3rd quarter worth about $5,682,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PARA shares. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft cut their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Morgan Stanley cut their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 27th. Finally, Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Wednesday, December 20th. Nine analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.79.

Paramount Global Price Performance

Shares of PARA stock opened at $11.06 on Tuesday. The stock’s fifty day simple moving average is $12.02 and its 200 day simple moving average is $12.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of -10.84, a P/E/G ratio of 0.43 and a beta of 1.77. Paramount Global has a one year low of $10.16 and a one year high of $24.00.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The firm had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the company posted $0.08 EPS. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts expect that Paramount Global will post 1.21 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a $0.05 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.20 annualized dividend and a yield of 1.81%. Paramount Global’s payout ratio is -19.61%.

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.