Paramount Global (NASDAQ:PARA) Shares Sold by Sandy Spring Bank

Sandy Spring Bank lessened its holdings in Paramount Global (NASDAQ:PARA) by 39.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,895 shares of the company’s stock after selling 1,889 shares during the period. Sandy Spring Bank’s holdings in Paramount Global were worth $30,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Allworth Financial LP lifted its stake in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Rakuten Securities Inc. lifted its stake 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 purchasing an additional 2,019 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Paramount Global in the 4th quarter valued at $57,000. FNY Investment Advisers LLC raised its holdings in shares of Paramount Global by 102.4% in the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after buying an additional 3,654 shares during the period. Finally, Synergy Asset Management LLC purchased a new stake in shares of Paramount Global in the 4th quarter valued at $88,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PARA shares. Morgan Stanley boosted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. StockNews.com started coverage on Paramount Global in a report on Saturday. They issued a “hold” rating on the stock. Guggenheim reiterated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.10.

Paramount Global Trading Down 0.6 %

PARA opened at $11.86 on Friday. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a market cap of $7.91 billion, a P/E ratio of -1.44, a PEG ratio of 1.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The business’s 50-day simple moving average is $11.16 and its 200-day simple moving average is $10.84.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS 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 during the quarter, compared to analysts’ expectations of $8.07 billion. As a group, equities research analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.69%. Paramount Global’s payout ratio is currently -2.15%.

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.