Corient Private Wealth LLC Has $449,000 Stake in Paramount Global (NASDAQ:PARA)

Corient Private Wealth LLC cut its position in Paramount Global (NASDAQ:PARA) by 39.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,968 shares of the company’s stock after selling 27,664 shares during the quarter. Corient Private Wealth LLC’s holdings in Paramount Global were worth $449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PARA. Lingotto Investment Management LLP increased its stake in Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after acquiring an additional 1,593,579 shares during the last quarter. State Street Corp boosted its holdings in shares of Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Paramount Global by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after purchasing an additional 1,606,779 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Paramount Global by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock worth $80,993,000 after buying an additional 348,298 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after buying an additional 908,515 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Paramount Global Trading Down 1.0 %

NASDAQ PARA opened at $11.56 on Friday. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. 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 firm has a market capitalization of $7.71 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The business’s 50-day moving average price is $11.28 and its two-hundred day moving average price is $10.89.

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

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.73%. Paramount Global’s dividend payout ratio (DPR) is currently -2.15%.

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.