Paramount Global (NASDAQ:PARA) Shares Sold by WealthTrust Axiom LLC

WealthTrust Axiom LLC cut its stake in shares of Paramount Global (NASDAQ:PARA) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,219 shares of the company’s stock after selling 1,638 shares during the period. WealthTrust Axiom LLC’s holdings in Paramount Global were worth $285,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PARA. Allworth Financial LP grew its position in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in Paramount Global during the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. lifted its position in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after buying an additional 2,019 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Paramount Global during the fourth quarter worth approximately $35,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Paramount Global in the 4th quarter valued at $36,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Trading Down 2.1 %

Shares of NASDAQ PARA opened at $10.69 on Friday. The company has a market cap of $7.13 billion, a price-to-earnings ratio of -1.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The stock’s 50 day simple moving average is $11.36 and its 200 day simple moving average is $10.95. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Equities research analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.87%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Analyst Ratings Changes

Several equities research analysts recently commented on PARA shares. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com initiated coverage on Paramount Global in a research report on Monday, April 7th. They set a “hold” rating on the stock. Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley raised their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average price target of $12.09.

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.