Wellington Management Group LLP Lowers Stock Position in Paramount Global (NASDAQ:PARA)

Wellington Management Group LLP lessened its stake in Paramount Global (NASDAQ:PARA) by 16.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,406 shares of the company’s stock after selling 20,361 shares during the period. Wellington Management Group LLP’s holdings in Paramount Global were worth $1,088,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank increased its position in shares of Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Paramount Global during the 2nd quarter valued at about $35,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paramount Global during the 2nd quarter valued at about $43,000. Finally, Kennebec Savings Bank purchased a new stake in Paramount Global in the third quarter worth approximately $47,000. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Guggenheim decreased their target price 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. Macquarie restated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Seven analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.43.

Paramount Global Trading Down 0.9 %

NASDAQ:PARA opened at $10.58 on Friday. Paramount Global has a 12 month low of $9.54 and a 12 month high of $16.28. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average price of $10.83 and a 200-day moving average price of $10.83. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of -1.29, a P/E/G ratio of 1.35 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the previous year, the firm posted $0.30 EPS. The business’s revenue was down 5.6% on a year-over-year basis. Equities analysts predict that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.89%. 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.