Federated Hermes Inc. Sells 10,558 Shares of Paramount Global (NASDAQ:PARA)

Federated Hermes Inc. reduced its position in Paramount Global (NASDAQ:PARA) by 80.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,615 shares of the company’s stock after selling 10,558 shares during the quarter. Federated Hermes Inc.’s holdings in Paramount Global were worth $31,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new stake in shares of Paramount Global in the 4th quarter valued at approximately $28,000. Ossiam boosted its position in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after buying an additional 1,022 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in Paramount Global during the 4th quarter worth approximately $45,000. Curat Global LLC acquired a new stake in Paramount Global during the 1st quarter worth approximately $55,000. Finally, Larson Financial Group LLC boosted its position in Paramount Global by 8,991.5% during the 1st quarter. Larson Financial Group LLC now owns 5,364 shares of the company’s stock worth $64,000 after buying an additional 5,305 shares during the period. 73.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PARA shares. JPMorgan Chase & Co. cut their target price on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 21st. Wells Fargo & Company dropped their price target on shares of Paramount Global from $12.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, August 1st. Wall Street Zen assumed coverage on shares of Paramount Global in a research report on Saturday, May 17th. They issued a “hold” rating on the stock. Morgan Stanley lifted their price objective on shares of Paramount Global from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday, August 1st. Finally, UBS Group lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research note on Tuesday, April 15th. Seven equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $11.70.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.04 on Tuesday. Paramount Global has a 1 year low of $9.95 and a 1 year high of $13.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of -367.88, a PEG ratio of 3.07 and a beta of 1.17. The company has a fifty day moving average price of $12.44 and a 200-day moving average price of $11.78.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.09. The firm had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.88 billion. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.51%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. As a group, equities research analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global’s payout ratio is -666.67%.

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.