Commonwealth Equity Services LLC Sells 20,436 Shares of Paramount Global (NASDAQ:PARA)

Commonwealth Equity Services LLC lessened its holdings in shares of Paramount Global (NASDAQ:PARA) by 13.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,347 shares of the company’s stock after selling 20,436 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Paramount Global were worth $1,396,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cape Investment Advisory Inc. raised its holdings in shares of Paramount Global by 5.2% during the 4th quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock valued at $266,000 after buying an additional 889 shares in the last quarter. New Hampshire Trust raised its holdings in shares of Paramount Global by 6.2% during the 1st quarter. New Hampshire Trust now owns 15,767 shares of the company’s stock valued at $186,000 after buying an additional 914 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Paramount Global by 3.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock valued at $291,000 after buying an additional 934 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after buying an additional 1,002 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its holdings in shares of Paramount Global by 2.4% during the 4th quarter. Personal CFO Solutions LLC now owns 43,468 shares of the company’s stock valued at $643,000 after buying an additional 1,030 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 3.0 %

NASDAQ PARA opened at $10.57 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The firm has a market capitalization of $7.04 billion, a PE ratio of -70.47, a P/E/G ratio of 0.57 and a beta of 1.75. The stock’s 50 day moving average is $10.93 and its 200 day moving average is $11.34.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Research analysts forecast that Paramount Global will post 1.57 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, September 16th. Paramount Global’s dividend payout ratio (DPR) is -133.33%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Benchmark reaffirmed a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, August 15th. Wolfe Research cut Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research note on Tuesday, July 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Finally, Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Eleven investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.47.

Paramount Global Company 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.