Cerity Partners LLC Has $136,000 Stock Holdings in Paramount Global (NASDAQ:PARA)

Cerity Partners LLC cut its stake in Paramount Global (NASDAQ:PARA - Free Report) by 90.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,409 shares of the company's stock after selling 102,496 shares during the quarter. Cerity Partners LLC's holdings in Paramount Global were worth $136,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PARA. Mattson Financial Services LLC purchased a new position in shares of Paramount Global during the fourth quarter valued at $28,000. Ossiam boosted its position in Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after buying an additional 1,022 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Paramount Global in the fourth quarter valued at approximately $35,000. Resona Asset Management Co. Ltd. purchased a new stake in Paramount Global in the fourth quarter valued at approximately $36,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Paramount Global in the fourth quarter valued at approximately $45,000. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Performance

NASDAQ:PARA traded up $0.44 during trading hours on Friday, reaching $13.01. 9,686,262 shares of the stock were exchanged, compared to its average volume of 8,986,388. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84. The firm has a 50 day simple moving average of $12.50 and a 200-day simple moving average of $11.71. Paramount Global has a 52 week low of $9.95 and a 52 week high of $13.59. The stock has a market capitalization of $8.77 billion, a P/E ratio of -1.58, a P/E/G ratio of 4.08 and a beta of 1.19.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.09. The company had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.88 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. Paramount Global's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. As a group, sell-side analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 16th. Paramount Global's dividend payout ratio is presently -2.43%.

Analyst Ratings Changes

PARA has been the subject of a number of analyst reports. Guggenheim reissued a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, June 26th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Tuesday, July 22nd. JPMorgan Chase & Co. dropped their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. UBS Group dropped their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Finally, Morgan Stanley raised their target price on Paramount Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a research note on Friday. Seven analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock 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.