Viawealth LLC Sells 1,847 Shares of Paramount Global (NASDAQ:PARA)

Viawealth LLC reduced its position in Paramount Global (NASDAQ:PARA) by 3.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,685 shares of the company’s stock after selling 1,847 shares during the period. Viawealth LLC’s holdings in Paramount Global were worth $572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PARA. Allworth Financial LP increased its position in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after acquiring an additional 1,481 shares in the last quarter. Huntington National Bank raised its position in shares of Paramount Global by 129.0% in 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. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Paramount Global by 10.4% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock worth $187,000 after purchasing an additional 1,663 shares in the last quarter. Finally, Insight Inv LLC grew its position in Paramount Global by 9.8% during the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after purchasing an additional 1,825 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Guggenheim reiterated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley lifted 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. Benchmark reissued a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $11.74 on Thursday. The company has a market capitalization of $7.83 billion, a PE ratio of -1.43, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company’s fifty day moving average price is $11.10 and its 200 day moving average price is $10.82. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54.

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

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -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.