Oppenheimer & Co. Inc. Has $446,000 Stock Holdings in Paramount Global (NASDAQ:PARA)

Oppenheimer & Co. Inc. decreased its stake in Paramount Global (NASDAQ:PARA) by 53.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 42,029 shares of the company’s stock after selling 49,061 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Paramount Global were worth $446,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Paramount Global by 6.5% during the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after acquiring an additional 3,803,928 shares during the last quarter. Lingotto Investment Management LLP raised its position in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after purchasing an additional 25,829,185 shares during the last quarter. Ariel Investments LLC lifted its holdings in Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after buying an additional 1,992,576 shares during the period. Kodai Capital Management LP grew its position in shares of Paramount Global by 9.2% in the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company’s stock valued at $73,732,000 after buying an additional 527,897 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Paramount Global by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock valued at $38,698,000 after buying an additional 225,191 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PARA shares. Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Macquarie reissued an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Finally, Guggenheim cut their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.40.

Paramount Global Trading Up 5.0 %

NASDAQ PARA opened at $11.11 on Friday. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The business has a 50 day moving average price of $10.65 and a 200-day moving average price of $11.02. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a market cap of $7.41 billion, a price-to-earnings ratio of -1.35, a P/E/G ratio of 1.25 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. As a group, equities analysts expect that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -2.43%.

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.