Paramount Global (NASDAQ:PARA) Stock Holdings Trimmed by US Bancorp DE

US Bancorp DE decreased its holdings in Paramount Global (NASDAQ:PARA) by 44.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 15,038 shares of the company’s stock after selling 12,220 shares during the quarter. US Bancorp DE’s holdings in Paramount Global were worth $160,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its position in shares of Paramount Global by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after buying an additional 934 shares in the last quarter. Great Valley Advisor Group Inc. lifted its position in Paramount Global by 5.3% in the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after purchasing an additional 1,002 shares during the period. Prestige Wealth Management Group LLC boosted its stake in Paramount Global by 13.2% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after purchasing an additional 1,011 shares in the last quarter. GAMMA Investing LLC increased its position 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 valued at $60,000 after purchasing an additional 1,067 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Paramount Global by 8.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after buying an additional 1,356 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PARA has been the subject of several research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Eight 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Stock Performance

PARA stock opened at $10.84 on Friday. The firm has a 50 day moving average of $10.61 and a two-hundred day moving average of $11.08. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a P/E/G ratio of 1.38 and a beta of 1.74. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the prior year, the company posted $0.30 earnings per share. Paramount Global’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Paramount Global will post 1.81 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. Investors of record on Monday, December 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.85%. Paramount Global’s dividend payout ratio (DPR) is currently -2.43%.

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.