Paramount Global (NASDAQ:PARA) Holdings Lowered by Matrix Asset Advisors Inc. NY

Matrix Asset Advisors Inc. NY decreased its stake in Paramount Global (NASDAQ:PARA) by 86.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,115 shares of the company’s stock after selling 288,597 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in Paramount Global were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Lingotto Investment Management LLP raised its stake in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after purchasing an additional 25,829,185 shares during the period. Vanguard Group Inc. lifted its stake in Paramount Global by 6.5% in the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after acquiring an additional 3,803,928 shares in the last quarter. Capitolis Liquid Global Markets LLC acquired a new stake in Paramount Global during the 1st quarter worth about $33,191,000. Jane Street Group LLC grew its stake in Paramount Global by 323.5% during the 1st quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock valued at $32,417,000 after acquiring an additional 2,103,938 shares in the last quarter. Finally, Ariel Investments LLC grew its stake in Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after acquiring an additional 1,992,576 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.35 on Friday. The firm has a market capitalization of $6.90 billion, a PE ratio of -1.33, a PEG ratio of 0.57 and a beta of 1.75. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The firm’s fifty day simple moving average is $10.54 and its 200 day simple moving average is $11.24.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.21 billion. On average, sell-side analysts anticipate that Paramount Global will post 1.56 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.93%. Paramount Global’s dividend payout ratio is -2.57%.

Wall Street Analysts Forecast Growth

PARA has been the subject of several research reports. Guggenheim decreased their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. The Goldman Sachs Group initiated coverage on shares of Paramount Global in a report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price target on the stock. Evercore ISI cut their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a report on Tuesday, July 9th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.33.

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.