B. Riley Wealth Advisors Inc. Sells 7,228 Shares of Paramount Global (NASDAQ:PARA)

B. Riley Wealth Advisors Inc. trimmed its position in shares of Paramount Global (NASDAQ:PARA) by 41.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,183 shares of the company’s stock after selling 7,228 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Paramount Global were worth $107,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. State Street Corp boosted its stake in Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Lingotto Investment Management LLP raised its holdings in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after buying an additional 25,829,185 shares during the last quarter. Geode Capital Management LLC lifted its position in Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after buying an additional 1,606,779 shares in the last quarter. Ariel Investments LLC grew its holdings in Paramount Global by 16.5% during the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after acquiring an additional 1,992,576 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Paramount Global by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after acquiring an additional 1,030,592 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of PARA stock opened at $10.66 on Monday. The stock has a market cap of $7.11 billion, a PE ratio of -1.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71. The stock has a 50-day moving average of $10.84 and a 200-day moving average of $10.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a one year low of $9.54 and a one year high of $15.70.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. As a group, sell-side analysts expect that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is presently -2.43%.

Analyst Ratings Changes

PARA has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Guggenheim decreased their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Seven investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.43.

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.