Paramount Global (NASDAQ:PARA) Shares Sold by Creative Planning

Creative Planning lowered its holdings in Paramount Global (NASDAQ:PARA) by 20.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,033 shares of the company’s stock after selling 34,904 shares during the period. Creative Planning’s holdings in Paramount Global were worth $1,466,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC grew its position in Paramount Global by 146.5% in the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock worth $1,787,000 after buying an additional 90,262 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Paramount Global by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after purchasing an additional 34,541 shares during the period. Financial Counselors Inc. lifted its holdings in shares of Paramount Global by 6.9% during the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after purchasing an additional 56,021 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Paramount Global by 33.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after purchasing an additional 103,103 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Paramount Global by 798.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 684,300 shares of the company’s stock worth $7,110,000 after purchasing an additional 608,100 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Evercore ISI reduced 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 note on Tuesday, July 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Wolfe Research downgraded shares of 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. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Nine analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Paramount Global has an average rating of “Hold” and an average price target of $12.33.

Paramount Global Trading Up 0.4 %

NASDAQ:PARA opened at $10.47 on Wednesday. The company has a market capitalization of $6.98 billion, a P/E ratio of -1.34, a P/E/G ratio of 0.56 and a beta of 1.75. The stock’s 50 day moving average price is $10.49 and its 200 day moving average price is $11.13. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. On average, research analysts forecast that Paramount Global will post 1.6 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 yield of 1.91%. Paramount Global’s dividend payout ratio (DPR) is currently -2.57%.

Paramount Global 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.