Community Bank of Raymore Sells 28,230 Shares of Paramount Global (NASDAQ:PARA)

Community Bank of Raymore lowered its stake in shares of Paramount Global (NASDAQ:PARA) by 27.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 74,780 shares of the company’s stock after selling 28,230 shares during the quarter. Community Bank of Raymore’s holdings in Paramount Global were worth $880,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Metropolis Capital Ltd boosted its position in Paramount Global by 0.6% in the first quarter. Metropolis Capital Ltd now owns 1,031,777 shares of the company’s stock worth $12,144,000 after purchasing an additional 6,219 shares during the last quarter. Foundation Resource Management Inc. boosted its position in Paramount Global by 3.4% in the first quarter. Foundation Resource Management Inc. now owns 1,101,664 shares of the company’s stock worth $12,967,000 after purchasing an additional 36,382 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in Paramount Global by 104.0% in the first quarter. Banque Cantonale Vaudoise now owns 102,932 shares of the company’s stock worth $1,212,000 after purchasing an additional 52,471 shares during the last quarter. Welch Group LLC purchased a new position in Paramount Global in the first quarter worth $142,000. Finally, Alaska Permanent Fund Corp purchased a new position in Paramount Global in the first quarter worth $902,000. Institutional investors own 73.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PARA. Needham & Company LLC cut Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Wells Fargo & Company lowered Paramount Global from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $14.00 to $9.00 in a research note on Wednesday, June 12th. JPMorgan Chase & Co. reduced their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Ten research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.29.

Paramount Global Stock Down 1.2 %

Shares of PARA traded down $0.12 on Wednesday, reaching $9.99. The stock had a trading volume of 931,942 shares, compared to its average volume of 18,896,211. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $11.83 and a 200-day simple moving average of $12.54. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. During the same quarter last year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Analysts forecast that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

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.