Janney Montgomery Scott LLC decreased its position in Paramount Global (NASDAQ:PARA – Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 274,639 shares of the company’s stock after selling 7,984 shares during the period. Janney Montgomery Scott LLC’s holdings in Paramount Global were worth $6,127,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its holdings in Paramount Global by 404.9% in the 4th quarter. Annapolis Financial Services LLC now owns 1,641 shares of the company’s stock valued at $28,000 after acquiring an additional 1,316 shares in the last quarter. Armstrong Advisory Group Inc. bought a new stake in shares of Paramount Global in the 4th quarter valued at approximately $28,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Paramount Global in the 4th quarter valued at approximately $29,000. City State Bank grew its stake in shares of Paramount Global by 547.4% in the 1st quarter. City State Bank now owns 1,845 shares of the company’s stock valued at $41,000 after purchasing an additional 1,560 shares during the period. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Paramount Global in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 77.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PARA. StockNews.com began coverage on Paramount Global in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. UBS Group lowered their price objective on Paramount Global from $15.00 to $14.00 in a research note on Wednesday, July 5th. Loop Capital upgraded Paramount Global from a “sell” rating to a “hold” rating and set a $14.00 price target on the stock in a research report on Friday, May 26th. Deutsche Bank Aktiengesellschaft decreased their price target on Paramount Global from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, May 24th. Finally, Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Paramount Global in a research report on Friday, April 14th. Eight analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.10.
Insider Activity
Paramount Global Stock Performance
PARA stock opened at $15.52 on Friday. The business’s fifty day moving average is $15.80 and its 200-day moving average is $19.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.12 and a quick ratio of 1.02. Paramount Global has a twelve month low of $13.80 and a twelve month high of $27.49.
Paramount Global (NASDAQ:PARA – Get Free Report) last posted its quarterly earnings results on Thursday, May 4th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.03). The company had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.42 billion. Paramount Global had a negative net margin of 1.49% and a positive return on equity of 3.64%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Research analysts predict that Paramount Global will post 0.63 earnings per share for the current fiscal year.
Paramount Global Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Thursday, June 15th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, June 14th. Paramount Global’s dividend payout ratio (DPR) is currently -25.64%.
Paramount Global Profile
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.
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