Paramount Global (NASDAQ:PARA) Shares Sold by Greatmark Investment Partners Inc.

Greatmark Investment Partners Inc. lessened its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 82.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,655 shares of the company's stock after selling 64,995 shares during the period. Greatmark Investment Partners Inc.'s holdings in Paramount Global were worth $176,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Paramount Global by 30.4% in the 1st quarter. BlackRock Inc. now owns 54,882,034 shares of the company's stock worth $1,224,418,000 after purchasing an additional 12,783,448 shares during the last quarter. State Street Corp lifted its holdings in shares of Paramount Global by 7.3% in the 1st quarter. State Street Corp now owns 35,333,056 shares of the company's stock worth $796,459,000 after purchasing an additional 2,402,874 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Paramount Global by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 11,662,369 shares of the company's stock worth $185,672,000 after purchasing an additional 211,869 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Paramount Global by 6.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 11,532,625 shares of the company's stock valued at $183,484,000 after acquiring an additional 745,752 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Paramount Global by 0.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,827,484 shares of the company's stock valued at $182,767,000 after acquiring an additional 79,641 shares in the last quarter. Institutional investors own 72.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on PARA shares. Benchmark reaffirmed a "buy" rating and set a $30.00 target price on shares of Paramount Global in a research note on Monday, December 18th. TheStreet downgraded Paramount Global from a "c-" rating to a "d+" rating in a research note on Friday, October 27th. Redburn Atlantic downgraded Paramount Global from a "neutral" rating to a "sell" rating and cut their target price for the company from $17.00 to $11.00 in a research note on Thursday, January 11th. The Goldman Sachs Group lowered their price target on Paramount Global from $15.00 to $11.00 and set a "sell" rating on the stock in a research report on Friday, October 20th. Finally, StockNews.com cut Paramount Global from a "hold" rating to a "sell" rating in a research report on Wednesday. Eleven equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $15.40.

Paramount Global Trading Down 1.7 %

Shares of NASDAQ:PARA opened at $14.43 on Friday. The firm has a fifty day moving average of $14.62 and a two-hundred day moving average of $13.91. The company has a quick ratio of 1.09, a current ratio of 1.26 and a debt-to-equity ratio of 0.70. Paramount Global has a 12-month low of $10.51 and a 12-month high of $25.17. The firm has a market capitalization of $9.40 billion, a P/E ratio of -8.11, a price-to-earnings-growth ratio of 1.85 and a beta of 1.84.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Thursday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.22. Paramount Global had a positive return on equity of 1.89% and a negative net margin of 3.65%. The firm had revenue of $7.13 billion during the quarter, compared to analysts' expectations of $7.12 billion. On average, equities analysts expect that Paramount Global will post 0.48 EPS for the current fiscal year.

Paramount Global Company Profile

Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.

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