SG Americas Securities LLC lowered its position in shares of Paramount Global (NASDAQ:PARA – Free Report) by 83.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,483 shares of the company’s stock after selling 136,035 shares during the period. SG Americas Securities LLC’s holdings in Paramount Global were worth $437,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Berkshire Hathaway Inc lifted its position in Paramount Global by 2.7% in the fourth quarter. Berkshire Hathaway Inc now owns 93,637,189 shares of the company’s stock valued at $1,580,596,000 after acquiring an additional 2,420,679 shares during the last quarter. BlackRock Inc. lifted its position in Paramount Global by 30.4% in the first quarter. BlackRock Inc. now owns 54,882,034 shares of the company’s stock valued at $1,224,418,000 after acquiring an additional 12,783,448 shares during the last quarter. State Street Corp lifted its position in Paramount Global by 7.3% in the first quarter. State Street Corp now owns 35,333,056 shares of the company’s stock valued at $796,459,000 after acquiring an additional 2,402,874 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Paramount Global by 1.7% in the first quarter. Geode Capital Management LLC now owns 11,450,500 shares of the company’s stock valued at $255,814,000 after buying an additional 192,826 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Paramount Global by 0.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,827,484 shares of the company’s stock valued at $182,767,000 after buying an additional 79,641 shares during the last quarter. Institutional investors and hedge funds own 72.39% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on PARA. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Paramount Global in a report on Tuesday, August 8th. Citigroup reduced their target price on shares of Paramount Global from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, August 15th. UBS Group reduced their target price on shares of Paramount Global from $15.00 to $14.00 in a report on Wednesday, July 5th. Benchmark increased their price target on shares of Paramount Global from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, August 8th. Finally, Evercore ISI cut their price target on shares of Paramount Global from $18.00 to $15.00 and set an “in-line” rating for the company in a report on Monday, July 24th. Eight analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Paramount Global has an average rating of “Hold” and an average target price of $19.16.
Paramount Global Stock Up 0.3 %
PARA stock opened at $12.82 on Friday. The stock has a market capitalization of $8.35 billion, a P/E ratio of -6.82, a PEG ratio of 4.80 and a beta of 1.66. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.17. Paramount Global has a one year low of $12.21 and a one year high of $25.93. The company has a 50 day moving average price of $14.47 and a two-hundred day moving average price of $16.89.
Paramount Global (NASDAQ:PARA – Get Free Report) last released its earnings results on Monday, August 7th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.11. The firm had revenue of $7.62 billion during the quarter, compared to analysts’ expectations of $7.44 billion. Paramount Global had a negative net margin of 3.89% and a positive return on equity of 2.15%. Paramount Global’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 EPS. As a group, sell-side analysts expect that Paramount Global will post 0.46 EPS for the current year.
Paramount Global Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.05 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.56%. Paramount Global’s dividend payout ratio (DPR) is presently -10.64%.
About Paramount Global
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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