Paramount Global (NASDAQ:PARA) Stock Holdings Trimmed by Lebenthal Global Advisors LLC

Lebenthal Global Advisors LLC lowered its holdings in shares of Paramount Global (NASDAQ:PARA) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,245 shares of the company’s stock after selling 2,615 shares during the period. Lebenthal Global Advisors LLC’s holdings in Paramount Global were worth $597,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. grew its holdings in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Paramount Global in the 2nd quarter worth $35,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paramount Global in the 2nd quarter worth $43,000. SageView Advisory Group LLC acquired a new position in shares of Paramount Global in the 1st quarter worth $56,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after acquiring an additional 4,100 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PARA shares. Evercore ISI decreased their target price on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Finally, Guggenheim decreased their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.33.

Paramount Global Stock Down 0.1 %

Shares of NASDAQ:PARA traded down $0.01 on Friday, reaching $10.93. The company had a trading volume of 764,028 shares, compared to its average volume of 15,001,686. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The stock has a 50-day moving average price of $10.49 and a 200 day moving average price of $11.12. The stock has a market capitalization of $7.29 billion, a P/E ratio of -1.40, a P/E/G ratio of 0.57 and a beta of 1.75. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. On average, equities analysts expect that Paramount Global will post 1.61 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.83%. Paramount Global’s payout ratio is -2.57%.

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.