Personal CFO Solutions LLC Decreases Stock Position in Paramount Global (NASDAQ:PARA)

Personal CFO Solutions LLC reduced its position in Paramount Global (NASDAQ:PARA) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,627 shares of the company’s stock after selling 3,645 shares during the quarter. Personal CFO Solutions LLC’s holdings in Paramount Global were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. Bridgewater Associates LP grew its holdings in shares of Paramount Global by 50.7% during the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after acquiring an additional 110,357 shares during the period. Franklin Resources Inc. boosted its position in shares of Paramount Global by 824.1% in the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. lifted its position in Paramount Global by 16.2% in the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after acquiring an additional 265,408 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Paramount Global by 22.3% in the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock valued at $7,258,000 after acquiring an additional 124,740 shares in the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PARA. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley raised their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Benchmark reissued a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.10.

Paramount Global Trading Up 3.2 %

NASDAQ:PARA opened at $12.14 on Friday. The company has a market capitalization of $8.10 billion, a P/E ratio of -1.48, a PEG ratio of 1.68 and a beta of 1.60. The firm has a fifty day simple moving average of $10.94 and a 200-day simple moving average of $10.78. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, equities research analysts anticipate 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 will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.65%. Paramount Global’s dividend payout ratio is currently -2.15%.

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.