Roberts Glore & Co. Inc. IL Lowers Stock Holdings in 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 lessened its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 66.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. American Century Companies Inc. grew its stake 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 acquiring an additional 39,572 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Paramount Global by 83.0% in the 4th quarter. Wellington Management Group LLP now owns 187,453 shares of the company's stock worth $1,961,000 after acquiring an additional 85,047 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Paramount Global by 40.9% in the 4th quarter. Franklin Resources Inc. now owns 275,743 shares of the company's stock worth $2,884,000 after buying an additional 80,053 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Paramount Global by 401.8% in the 4th quarter. National Bank of Canada FI now owns 177,677 shares of the company's stock worth $1,859,000 after buying an additional 142,267 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Paramount Global in the 4th quarter worth about $36,000. Institutional investors own 73.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PARA shares. JPMorgan Chase & Co. cut their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Morgan Stanley boosted their price target on shares of Paramount Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a report on Friday, August 1st. Guggenheim reissued a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, June 26th. Citigroup reissued a "neutral" rating and issued a $12.00 price target (down from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Finally, Loop Capital boosted their price target 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. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $11.70.

Paramount Global Stock Performance

NASDAQ PARA remained flat at $11.04 during trading on Monday. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of -367.88, a P/E/G ratio of 3.07 and a beta of 1.17. Paramount Global has a 52-week low of $9.95 and a 52-week high of $13.59. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21. The company has a fifty day moving average price of $12.46 and a two-hundred day moving average price of $11.78.

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

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global's dividend payout ratio is presently -666.67%.

Paramount Global Company 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.