Paramount Global (NASDAQ:PARA) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in Paramount Global (NASDAQ:PARA) by 12.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,008,913 shares of the company’s stock after selling 579,713 shares during the period. Dimensional Fund Advisors LP owned about 0.60% of Paramount Global worth $41,646,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC purchased a new position in Paramount Global in the second quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the second quarter valued at about $43,000. Newbridge Financial Services Group Inc. purchased a new position in Paramount Global in the fourth quarter valued at about $44,000. SageView Advisory Group LLC purchased a new position in shares of Paramount Global during the 1st quarter worth approximately $56,000. Finally, GAMMA Investing LLC increased its stake in shares of Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after purchasing an additional 1,067 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Down 1.6 %

Shares of PARA opened at $10.62 on Tuesday. The firm has a market cap of $7.08 billion, a PE ratio of -70.80, a price-to-earnings-growth ratio of 0.60 and a beta of 1.75. The company’s fifty day moving average is $10.69 and its two-hundred day moving average is $11.30. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. Analysts forecast that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.88%. Paramount Global’s payout ratio is -133.32%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Guggenheim lowered their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. Finally, The Goldman Sachs Group started coverage on shares of Paramount Global in a research note on Tuesday, June 25th. They issued a “sell” rating and a $9.50 target price for the company. Ten research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.18.

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.