SeaCrest Wealth Management LLC Has $233,000 Holdings in Paramount Global (NASDAQ:PARA)

SeaCrest Wealth Management LLC lessened its position in Paramount Global (NASDAQ:PARA) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,443 shares of the company’s stock after selling 1,542 shares during the period. SeaCrest Wealth Management LLC’s holdings in Paramount Global were worth $233,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in PARA. Charles Schwab Investment Management Inc. raised its stake in shares of Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock valued at $80,993,000 after purchasing an additional 348,298 shares during the period. Wilsey Asset Management Inc. boosted its position in Paramount Global by 16.2% during the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after acquiring an additional 265,408 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after acquiring an additional 908,515 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Paramount Global in the fourth quarter valued at approximately $5,457,000. Finally, Amundi raised its holdings in shares of Paramount Global by 10.1% in the fourth quarter. Amundi now owns 1,655,784 shares of the company’s stock valued at $17,618,000 after purchasing an additional 152,026 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Up 0.2%

PARA opened at $11.92 on Monday. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.19. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $12.54. The company has a 50-day simple moving average of $11.52 and a 200 day simple moving average of $11.22.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The company had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Monday, June 16th. Paramount Global’s dividend payout ratio is presently -2.43%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Wednesday, April 2nd. Citigroup reiterated a “neutral” rating and issued a $12.00 price target (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. dropped their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 21st. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.33.

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.