Roberts Glore & Co. Inc. IL Sells 23,645 Shares of Paramount Global (NASDAQ:PARA)

Key Points

• Roberts Glore & Co. Inc. IL reduced its holdings in Paramount Global by 66.5% in the first quarter, leaving them with 11,900 shares valued at $142,000.
• Other large investors, including Vanguard Group Inc. and ING Groep NV, increased their stakes in Paramount Global, indicating significant institutional interest in the company.
• Paramount Global reported a Q2 EPS of $0.46, surpassing estimates, but had a slight revenue miss at $6.85 billion, leading to a negative net margin of 0.05%.

Roberts Glore & Co. Inc. IL decreased its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 66.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,900 shares of the company's stock after selling 23,645 shares during the quarter. Roberts Glore & Co. Inc. IL's holdings in Paramount Global were worth $142,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Hoertkorn Richard Charles grew its holdings in shares of Paramount Global by 10.2% in the 1st quarter. Hoertkorn Richard Charles now owns 252,485 shares of the company's stock worth $3,020,000 after purchasing an additional 23,419 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Paramount Global in the 1st quarter worth about $1,040,000. American Century Companies Inc. grew its holdings in shares of Paramount Global by 29.2% in the 4th quarter. American Century Companies Inc. now owns 174,995 shares of the company's stock worth $1,830,000 after purchasing an additional 39,572 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Paramount Global by 5.7% in the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock worth $215,413,000 after purchasing an additional 1,119,314 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in shares of Paramount Global by 106.6% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 68,698 shares of the company's stock worth $808,000 after purchasing an additional 35,444 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

Paramount Global Stock Performance

PARA stock remained flat at $11.04 during mid-day trading on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.21 and a current ratio of 1.39. The company has a market cap of $7.44 billion, a price-to-earnings ratio of -367.88, a price-to-earnings-growth ratio of 3.07 and a beta of 1.17. The firm's fifty day simple moving average is $12.46 and its 200 day simple moving average is $11.77. Paramount Global has a 52 week low of $9.95 and a 52 week high of $13.59.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.37 by $0.09. The firm had revenue of $6.85 billion for the quarter, compared to the consensus estimate of $6.88 billion. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.51%. The business's quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $0.54 EPS. On average, equities analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, June 16th. Paramount Global's dividend payout ratio (DPR) is -666.67%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Loop Capital increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock a "sell" rating in a report on Friday, July 25th. Seaport Res Ptn lowered shares of Paramount Global from a "hold" rating to a "strong sell" rating in a report on Monday, July 28th. Benchmark decreased their price objective on shares of Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. 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. Finally, Wells Fargo & Company decreased their price objective on shares of Paramount Global from $12.00 to $10.00 and set an "underweight" rating on the stock in a report on Friday, August 1st. Seven investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.70.

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.