Shell Asset Management Co. cut its stake in shares of Paramount Global (NASDAQ:PARA – Get Rating) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,685 shares of the company’s stock after selling 5,163 shares during the quarter. Shell Asset Management Co.’s holdings in Paramount Global were worth $265,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Money Concepts Capital Corp bought a new stake in Paramount Global in the third quarter worth about $25,000. Ellevest Inc. bought a new stake in Paramount Global during the third quarter valued at approximately $25,000. General Partner Inc. bought a new stake in Paramount Global during the fourth quarter valued at approximately $27,000. Armstrong Advisory Group Inc. bought a new stake in Paramount Global during the fourth quarter valued at approximately $28,000. Finally, Annapolis Financial Services LLC lifted its position in Paramount Global by 404.9% during the fourth quarter. Annapolis Financial Services LLC now owns 1,641 shares of the company’s stock valued at $28,000 after purchasing an additional 1,316 shares during the last quarter. Institutional investors and hedge funds own 74.13% of the company’s stock.
Paramount Global Trading Up 0.8 %
Paramount Global stock opened at $16.99 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. Paramount Global has a 1 year low of $15.29 and a 1 year high of $34.50. The firm’s 50 day moving average price is $21.31 and its 200-day moving average price is $20.29.
Paramount Global Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 3rd. Shareholders of record on Monday, March 20th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date was Friday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -123.08%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on PARA. Credit Suisse Group boosted their price objective on shares of Paramount Global from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Evercore ISI lowered their price objective on shares of Paramount Global from $25.00 to $18.00 in a report on Friday. Rosenblatt Securities restated a “sell” rating and issued a $13.00 price objective on shares of Paramount Global in a report on Wednesday, March 22nd. Bank of America upgraded shares of Paramount Global from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $24.00 to $32.00 in a report on Tuesday, March 28th. Finally, StockNews.com started coverage on shares of Paramount Global in a report on Thursday, March 16th. They set a “sell” rating for the company. Eleven investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.00.
About Paramount Global
Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.
Recommended Stories
- Get a free copy of the StockNews.com research report on Paramount Global (PARA)
- Is the Electric Vehicle Movement Losing Steam?
- 3 High-Yield Banks Insiders Are BuyingÂ
- Will ChatGPT Be the Final Nail in the Coffin for Chegg?
- Is the Market Reacting Too Negatively to Pinterest Earnings?
- More Analysts Should See Energizer Holdings As A Buy: Here Is Why
Receive News & Ratings for Paramount Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Global and related companies with MarketBeat.com's FREE daily email newsletter.
