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

Steward Partners Investment Advisory LLC cut its holdings in Paramount Global (NASDAQ:PARA) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,858 shares of the company’s stock after selling 6,538 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Paramount Global were worth $867,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PARA. Allworth Financial LP lifted its stake in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after acquiring an additional 1,481 shares during the period. Huntington National Bank increased its position in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after acquiring an additional 1,561 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Paramount Global by 10.4% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock worth $187,000 after acquiring an additional 1,663 shares during the period. Finally, Insight Inv LLC increased its holdings in Paramount Global by 9.8% in the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after buying an additional 1,825 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Price Performance

Shares of PARA opened at $12.00 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market capitalization of $8.00 billion, a price-to-earnings ratio of -1.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The firm has a 50-day simple moving average of $10.97 and a 200-day simple moving average of $10.78.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. On average, equities research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

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

Analyst Ratings Changes

PARA has been the topic of several recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley raised their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Finally, Macquarie reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Paramount Global 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 assigned a buy rating to the company. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Company 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.