Daiwa Securities Group Inc. Sells 1,065 Shares of Paramount Global (NASDAQ:PARA)

Daiwa Securities Group Inc. cut its holdings in Paramount Global (NASDAQ:PARA) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,470 shares of the company’s stock after selling 1,065 shares during the period. Daiwa Securities Group Inc.’s holdings in Paramount Global were worth $628,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of Paramount Global by 433.6% in the 3rd quarter. SG Americas Securities LLC now owns 146,642 shares of the company’s stock valued at $1,892,000 after acquiring an additional 119,159 shares during the last quarter. Caprock Group LLC bought a new stake in Paramount Global in the third quarter valued at approximately $633,000. Oak Thistle LLC purchased a new stake in shares of Paramount Global during the third quarter valued at approximately $253,000. Czech National Bank grew its holdings in shares of Paramount Global by 40.4% in the third quarter. Czech National Bank now owns 84,282 shares of the company’s stock worth $1,087,000 after purchasing an additional 24,263 shares during the last quarter. Finally, SOL Capital Management CO increased its stake in shares of Paramount Global by 29.6% in the third quarter. SOL Capital Management CO now owns 57,074 shares of the company’s stock worth $736,000 after buying an additional 13,025 shares during the period. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PARA shares. Benchmark cut their price target on shares of Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Raymond James reissued a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Rosenblatt Securities reiterated a “neutral” rating and issued a $13.00 price objective on shares of Paramount Global in a research report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.79.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $12.18 on Friday. The business has a fifty day moving average price of $11.49 and a 200-day moving average price of $12.88. Paramount Global has a 1-year low of $10.12 and a 1-year high of $24.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.80 billion. During the same period last year, the business earned $0.08 EPS. Paramount Global’s revenue was down 6.1% compared to the same quarter last year. As a group, analysts anticipate that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.64%. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

Paramount Global 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.