Paramount Global (NASDAQ:PARA) Stock Holdings Lessened by Amalgamated Bank

Amalgamated Bank reduced its stake in shares of Paramount Global (NASDAQ:PARA) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 114,921 shares of the company’s stock after selling 2,290 shares during the quarter. Amalgamated Bank’s holdings in Paramount Global were worth $1,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Carson Advisory Inc. boosted its stake in shares of Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock valued at $577,000 after buying an additional 1,004 shares during the period. Allworth Financial LP raised its holdings in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after purchasing an additional 1,481 shares during the last quarter. Huntington National Bank boosted its position in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in Paramount Global by 10.4% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock valued at $187,000 after purchasing an additional 1,663 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Down 0.4 %

Paramount Global stock opened at $11.31 on Tuesday. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $7.54 billion, a PE ratio of -1.38, a PEG ratio of 1.68 and a beta of 1.69. The business’s 50-day simple moving average is $10.83 and its 200-day simple moving average is $10.75.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Equities research analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is currently -2.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PARA shares. Guggenheim reiterated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley boosted their target price 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. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and a consensus target price 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.