Paramount Global (NASDAQ:PARA) Holdings Trimmed by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC reduced its position in Paramount Global (NASDAQ:PARA - Free Report) by 90.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,236 shares of the company's stock after selling 269,922 shares during the quarter. Alpha Omega Wealth Management LLC's holdings in Paramount Global were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its holdings in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. Mattson Financial Services LLC bought a new stake in Paramount Global in the fourth quarter valued at $28,000. Ossiam boosted its holdings in shares of Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after acquiring an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global during the fourth quarter valued at $31,000. Finally, Rakuten Securities Inc. grew its position in shares of Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after acquiring an additional 2,019 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PARA. Guggenheim reissued a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley reduced their price objective on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. Benchmark lowered their target price on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Citigroup restated a "neutral" rating and issued a $12.00 target price (down from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. Finally, UBS Group lowered their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Six research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $11.33.

Paramount Global Price Performance

Paramount Global stock traded down $0.30 during midday trading on Thursday, hitting $11.94. The company's stock had a trading volume of 9,139,860 shares, compared to its average volume of 9,614,705. Paramount Global has a 12 month low of $9.54 and a 12 month high of $12.54. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $8.05 billion, a PE ratio of -1.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.19. The stock's 50-day moving average price is $11.56 and its 200-day moving average price is $11.24.

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

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. Paramount Global's dividend payout ratio (DPR) is presently -2.43%.

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.