IPG Investment Advisors LLC Decreases Position in Paramount Global (NASDAQ:PARA)

IPG Investment Advisors LLC decreased its stake in Paramount Global (NASDAQ:PARA) by 35.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 556,200 shares of the company’s stock after selling 306,576 shares during the quarter. Paramount Global comprises 1.3% of IPG Investment Advisors LLC’s portfolio, making the stock its 21st biggest holding. IPG Investment Advisors LLC owned about 0.08% of Paramount Global worth $5,848,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of PARA. Allworth Financial LP raised its stake in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Paramount Global in the fourth quarter worth approximately $31,000. Rakuten Securities Inc. lifted its stake in shares of Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after acquiring an additional 2,019 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Paramount Global during the 4th quarter valued at $57,000. Finally, FNY Investment Advisers LLC grew its position in Paramount Global by 102.4% in the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after acquiring an additional 3,654 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PARA has been the subject of several research analyst reports. Morgan Stanley boosted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. StockNews.com assumed coverage on shares of Paramount Global in a research report on Sunday. They issued a “hold” rating for the company. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim reissued a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Six analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Paramount Global has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Down 1.0 %

Shares of NASDAQ PARA opened at $11.56 on Friday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The stock’s fifty day simple moving average is $11.28 and its two-hundred day simple moving average is $10.89. The stock has a market capitalization of $7.71 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. 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 issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Paramount Global 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.