Paramount Global (NASDAQ:PARA) Shares Sold by Welch Group LLC

Welch Group LLC reduced its stake in Paramount Global (NASDAQ:PARA) by 8.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,102 shares of the company’s stock after selling 1,000 shares during the period. Welch Group LLC’s holdings in Paramount Global were worth $115,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. SOL Capital Management CO lifted its position in shares of Paramount Global by 1.6% during the fourth quarter. SOL Capital Management CO now owns 180,604 shares of the company’s stock worth $1,889,000 after purchasing an additional 2,830 shares in the last quarter. Synergy Asset Management LLC acquired a new position in Paramount Global in the 4th quarter worth $88,000. R Squared Ltd purchased a new position in Paramount Global in the 4th quarter valued at about $154,000. Perigon Wealth Management LLC grew its stake in shares of Paramount Global by 7.0% during the fourth quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock valued at $293,000 after acquiring an additional 1,874 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its position in shares of Paramount Global by 27.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 33,254 shares of the company’s stock worth $348,000 after acquiring an additional 7,167 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Stock Up 1.8 %

Shares of Paramount Global stock opened at $10.92 on Wednesday. Paramount Global has a twelve month low of $9.54 and a twelve 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 business’s 50 day simple moving average is $10.75 and its 200-day simple moving average is $10.72.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping 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 firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities research analysts expect that Paramount Global will post 1.78 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley increased their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday. Macquarie reissued an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus price target of $12.58.

About Paramount Global

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.