Atria Wealth Solutions Inc. Sells 27,269 Shares of Paramount Global (NASDAQ:PARA)

Atria Wealth Solutions Inc. lessened its holdings in Paramount Global (NASDAQ:PARA) by 33.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,847 shares of the company’s stock after selling 27,269 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Paramount Global were worth $659,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PARA. ING Groep NV boosted its position in Paramount Global by 239.9% in the first quarter. ING Groep NV now owns 75,964 shares of the company’s stock valued at $909,000 after buying an additional 53,618 shares in the last quarter. R Squared Ltd grew its stake in Paramount Global by 72.9% during the first quarter. R Squared Ltd now owns 25,420 shares of the company’s stock worth $304,000 after buying an additional 10,720 shares during the last quarter. Commerce Bank grew its stake in Paramount Global by 77.3% during the first quarter. Commerce Bank now owns 21,719 shares of the company’s stock worth $260,000 after buying an additional 9,471 shares during the last quarter. US Bancorp DE grew its stake in Paramount Global by 61.1% during the first quarter. US Bancorp DE now owns 19,319 shares of the company’s stock worth $231,000 after buying an additional 7,327 shares during the last quarter. Finally, Shufro Rose & Co. LLC bought a new stake in Paramount Global during the first quarter worth about $150,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Paramount Global stock opened at $11.04 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83. Paramount Global has a 1 year low of $9.95 and a 1 year high of $13.59. The company has a market cap of $7.44 billion, a PE ratio of -367.88, a PEG ratio of 3.07 and a beta of 1.17. The company’s 50-day moving average is $12.42 and its two-hundred day moving average is $11.78.

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

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were given a dividend of $0.05 per share. The ex-dividend date was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Paramount Global’s dividend payout ratio is presently -666.67%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PARA shares. Seaport Res Ptn cut shares of Paramount Global from a “hold” rating to a “strong sell” rating in a research note on Monday, July 28th. Loop Capital upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock a “sell” rating in a research note on Friday, July 25th. Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, June 26th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Tuesday, July 22nd. Finally, UBS Group decreased their price objective on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a report on Tuesday, April 15th. Seven investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $11.70.

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.