Cetera Investment Advisers Lowers Holdings in Paramount Global (NASDAQ:PARA)

Cetera Investment Advisers lowered its stake in shares of Paramount Global (NASDAQ:PARA) by 14.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,652 shares of the company’s stock after selling 26,473 shares during the period. Cetera Investment Advisers’ holdings in Paramount Global were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PARA. Vanguard Group Inc. boosted its holdings in shares of Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company’s stock valued at $862,058,000 after purchasing an additional 626,256 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Paramount Global during the 4th quarter valued at about $1,512,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Paramount Global in the 4th quarter valued at approximately $44,000. Atlas Brown Inc. boosted its stake in Paramount Global by 42.5% during the first quarter. Atlas Brown Inc. now owns 38,080 shares of the company’s stock worth $448,000 after buying an additional 11,366 shares during the period. Finally, Mather Group LLC. bought a new stake in shares of Paramount Global in the 1st quarter worth about $100,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

PARA opened at $10.37 on Tuesday. The firm has a market capitalization of $6.91 billion, a PE ratio of -1.33, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75. The business’s 50-day moving average is $10.54 and its two-hundred day moving average is $11.22. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15.

Paramount Global (NASDAQ:PARA) last announced 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 company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. Research analysts anticipate that Paramount Global will post 1.56 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is presently -2.57%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PARA shares. Guggenheim cut their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Wolfe Research lowered Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price on the stock. in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lowered their target price 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. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Finally, Evercore ISI lowered their price objective on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. Nine analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.33.

About Paramount Global

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.