Commonwealth Equity Services LLC Has $1.51 Million Stock Holdings in Paramount Global (NASDAQ:PARA)

Commonwealth Equity Services LLC lowered its stake in Paramount Global (NASDAQ:PARA) by 13.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 144,764 shares of the company’s stock after selling 23,454 shares during the period. Commonwealth Equity Services LLC’s holdings in Paramount Global were worth $1,514,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PARA. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Paramount Global during the fourth quarter worth $5,543,000. Rakuten Securities Inc. raised its stake in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Paramount Global by 46.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,452 shares of the company’s stock valued at $1,626,000 after purchasing an additional 48,948 shares during the period. AlphaQuest LLC grew its position in shares of Paramount Global by 89.4% during the 4th quarter. AlphaQuest LLC now owns 52,456 shares of the company’s stock worth $549,000 after purchasing an additional 24,756 shares in the last quarter. Finally, Amundi increased its holdings in shares of Paramount Global by 10.1% during the fourth quarter. Amundi now owns 1,655,784 shares of the company’s stock worth $17,618,000 after purchasing an additional 152,026 shares during the period. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.56 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The stock has a market cap of $7.71 billion, a PE ratio of -1.41, a PEG ratio of 1.68 and a beta of 1.60. The firm’s fifty day moving average price is $11.28 and its two-hundred day moving average price is $10.89.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. On average, equities analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.73%. Paramount Global’s dividend payout ratio is presently -2.15%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price target on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Finally, StockNews.com began coverage on shares of Paramount Global in a report on Sunday. They set a “hold” rating for the company. Six analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $12.10.

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.