Paramount Global (NASDAQ:PARA) Shares Sold by Cibc World Markets Corp

Cibc World Markets Corp lowered its position in Paramount Global (NASDAQ:PARA) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,875 shares of the company’s stock after selling 16,278 shares during the quarter. Cibc World Markets Corp owned 0.07% of Paramount Global worth $4,758,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Paramount Global by 1.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after buying an additional 1,481 shares in the last quarter. Huntington National Bank lifted its holdings in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in Paramount Global by 10.4% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock worth $187,000 after buying an additional 1,663 shares in the last quarter. Finally, Insight Inv LLC lifted its holdings in Paramount Global by 9.8% in the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after buying an additional 1,825 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of NASDAQ:PARA opened at $11.74 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The firm has a 50-day simple moving average of $11.10 and a 200 day simple moving average of $10.82. The company has a market cap of $7.83 billion, a PE ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last announced 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). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. On average, sell-side analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Analysts Set New Price Targets

A number of brokerages have commented on PARA. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim restated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Morgan Stanley upped 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. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.10.

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.