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

Viawealth LLC lowered its holdings in shares of Paramount Global (NASDAQ:PARA) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,685 shares of the company’s stock after selling 1,847 shares during the quarter. Viawealth LLC’s holdings in Paramount Global were worth $572,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Contrarius Group Holdings Ltd bought a new position in shares of Paramount Global in the 4th quarter valued at about $146,230,000. one8zero8 LLC bought a new stake in shares of Paramount Global in the 4th quarter valued at approximately $137,000. Natixis Advisors LLC purchased a new position in shares of Paramount Global in the 4th quarter worth approximately $274,000. Greatmark Investment Partners Inc. increased its position in shares of Paramount Global by 68.2% during the 4th quarter. Greatmark Investment Partners Inc. now owns 127,410 shares of the company’s stock valued at $1,333,000 after purchasing an additional 51,656 shares during the last quarter. Finally, Monaco Asset Management SAM raised its holdings in Paramount Global by 140.7% during the 4th quarter. Monaco Asset Management SAM now owns 975,000 shares of the company’s stock valued at $10,198,000 after buying an additional 570,000 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Up 0.7 %

Shares of NASDAQ PARA opened at $11.74 on Thursday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $11.10 and a two-hundred day simple moving average of $10.82. The firm has a market cap 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.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data 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 business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is -2.15%.

Wall Street Analyst Weigh In

Several research analysts have commented on PARA shares. Benchmark reaffirmed a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Finally, Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $12.10.

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.