Wellington Shields & Co. LLC Sells 3,000 Shares of Paramount Global (NASDAQ:PARA)

Wellington Shields & Co. LLC lessened its position in Paramount Global (NASDAQ:PARA) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,327 shares of the company’s stock after selling 3,000 shares during the period. Wellington Shields & Co. LLC’s holdings in Paramount Global were worth $181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Monaco Asset Management SAM grew its position in shares of Paramount Global by 140.7% in the 4th quarter. Monaco Asset Management SAM now owns 975,000 shares of the company’s stock valued at $10,198,000 after acquiring an additional 570,000 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of Paramount Global in the 4th quarter valued at about $5,543,000. Rakuten Securities Inc. grew its position in shares of Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after acquiring an additional 2,019 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Paramount Global by 46.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,452 shares of the company’s stock valued at $1,626,000 after acquiring an additional 48,948 shares during the period. Finally, AlphaQuest LLC grew its position in shares of Paramount Global by 89.4% in the 4th quarter. AlphaQuest LLC now owns 52,456 shares of the company’s stock valued at $549,000 after acquiring an additional 24,756 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $11.69 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The company has a 50-day simple moving average of $11.03 and a two-hundred day simple moving average of $10.79. The stock has a market capitalization of $7.80 billion, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results 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 positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Analysts forecast that Paramount Global will post 1.77 EPS 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PARA. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Finally, Morgan Stanley lifted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.