Paramount Global (NASDAQ:PARA) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 52.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,834 shares of the company's stock after selling 126,405 shares during the period. Vontobel Holding Ltd.'s holdings in Paramount Global were worth $1,684,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC acquired a new position in Paramount Global during the third quarter worth $25,000. Anchor Investment Management LLC acquired a new stake in shares of Paramount Global in the fourth quarter valued at $30,000. Cornerstone Planning Group LLC acquired a new stake in shares of Paramount Global in the second quarter valued at $30,000. ICA Group Wealth Management LLC acquired a new stake in shares of Paramount Global in the fourth quarter valued at $32,000. Finally, WFA of San Diego LLC increased its holdings in Paramount Global by 635.0% in the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company's stock valued at $34,000 after buying an additional 2,286 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Performance

NASDAQ:PARA traded up $1.47 during mid-day trading on Friday, reaching $12.44. The stock had a trading volume of 45,625,404 shares, compared to its average volume of 21,872,332. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The firm has a market capitalization of $8.12 billion, a price-to-earnings ratio of -12.20, a PEG ratio of 0.39 and a beta of 1.77. Paramount Global has a twelve month low of $10.12 and a twelve month high of $24.00. The business has a 50 day simple moving average of $11.52 and a 200 day simple moving average of $12.86.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.05) by $0.09. The firm had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The firm's revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. On average, analysts expect that Paramount Global will post 1.2 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. Paramount Global's payout ratio is currently -19.61%.

Analyst Ratings Changes

Several research firms recently commented on PARA. Redburn Atlantic lowered Paramount Global from a "neutral" rating to a "sell" rating and dropped their target price for the company from $17.00 to $11.00 in a report on Thursday, January 11th. Benchmark dropped their price objective on Paramount Global from $30.00 to $19.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. StockNews.com raised Paramount Global from a "sell" rating to a "hold" rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on Paramount Global from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $13.00 price objective on shares of Paramount Global in a report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Paramount Global currently has an average rating of "Hold" and a consensus target price of $13.79.

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.