Institute for Wealth Management LLC. Trims Stock Position in Paramount Global (NASDAQ:PARAP)

Institute for Wealth Management LLC. lessened its holdings in Paramount Global (NASDAQ:PARAP) by 34.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,092 shares of the company’s stock after selling 13,916 shares during the period. Institute for Wealth Management LLC.’s holdings in Paramount Global were worth $488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Belpointe Asset Management LLC acquired a new position in shares of Paramount Global in the first quarter valued at approximately $29,000. Creative Planning acquired a new position in shares of Paramount Global in the third quarter valued at approximately $25,000. UBS Group AG acquired a new position in shares of Paramount Global in the third quarter valued at approximately $62,000. Royal Bank of Canada acquired a new position in shares of Paramount Global in the third quarter valued at approximately $75,000. Finally, Private Advisor Group LLC acquired a new position in shares of Paramount Global in the first quarter valued at approximately $228,000.

Paramount Global Stock Up 1.3 %

Shares of PARAP stock opened at $13.74 on Friday. Paramount Global has a one year low of $12.95 and a one year high of $32.28. The company has a 50 day moving average price of $14.28 and a 200 day moving average price of $16.72.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were given a dividend of $1.4375 per share. This represents a $5.75 dividend on an annualized basis and a yield of 41.85%. The ex-dividend date of this dividend was Thursday, March 14th.

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.