North Star Investment Management Corp. Sells 40,343 Shares of Paramount Global (NASDAQ:PARA)

North Star Investment Management Corp. lowered its position in Paramount Global (NASDAQ:PARA - Free Report) by 90.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,401 shares of the company's stock after selling 40,343 shares during the quarter. North Star Investment Management Corp.'s holdings in Paramount Global were worth $53,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PARA. Charles Schwab Investment Management Inc. lifted its holdings in shares of Paramount Global by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock valued at $80,993,000 after acquiring an additional 348,298 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Paramount Global by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock valued at $47,973,000 after acquiring an additional 908,515 shares during the period. Raymond James Financial Inc. bought a new position in Paramount Global during the 4th quarter valued at about $5,457,000. Amundi lifted its holdings in Paramount Global by 10.1% during the 4th quarter. Amundi now owns 1,655,784 shares of the company's stock valued at $17,618,000 after purchasing an additional 152,026 shares during the last quarter. Finally, Lingotto Investment Management LLP lifted its holdings in Paramount Global by 3.7% during the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after purchasing an additional 1,593,579 shares during the last quarter. Institutional investors own 73.00% of the company's stock.

Paramount Global Trading Up 0.6%

Shares of Paramount Global stock traded up $0.07 on Wednesday, hitting $12.04. 9,767,734 shares of the company's stock traded hands, compared to its average volume of 9,436,800. The firm's 50-day moving average price is $11.65 and its two-hundred day moving average price is $11.27. The stock has a market capitalization of $8.12 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 3.62 and a beta of 1.19. Paramount Global has a one year low of $9.59 and a one year high of $12.54. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.29 and a quick ratio of 1.18.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.02. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The firm's revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, research analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a $0.05 dividend. 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 1.66%. Paramount Global's dividend payout ratio (DPR) is presently -2.43%.

Analyst Ratings Changes

Several brokerages have issued reports on PARA. Guggenheim reiterated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a report on Wednesday, April 2nd. Citigroup reaffirmed a "neutral" rating and issued a $12.00 target price (down from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. UBS Group dropped their target price 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. Finally, Morgan Stanley dropped their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Tuesday, May 6th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $11.33.

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.