Auxier Asset Management Decreases Holdings in Paramount Global (NASDAQ:PARA)

Auxier Asset Management reduced its position in Paramount Global (NASDAQ:PARA) by 5.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 17,376 shares of the company’s stock after selling 975 shares during the period. Auxier Asset Management’s holdings in Paramount Global were worth $185,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PARA. Financial Counselors Inc. increased its stake in Paramount Global by 6.9% during the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after purchasing an additional 56,021 shares in the last quarter. Hoertkorn Richard Charles increased its position in shares of Paramount Global by 38.1% in the 3rd quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock valued at $2,354,000 after acquiring an additional 61,191 shares during the period. AustralianSuper Pty Ltd purchased a new position in Paramount Global in the 3rd quarter worth $7,222,000. Alpine Associates Management Inc. acquired a new stake in Paramount Global during the 3rd quarter worth about $5,186,000. Finally, Canada Pension Plan Investment Board grew its stake in Paramount Global by 798.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 684,300 shares of the company’s stock valued at $7,110,000 after purchasing an additional 608,100 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Up 1.2 %

Paramount Global stock opened at $10.77 on Friday. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The stock has a market capitalization of $7.18 billion, a PE ratio of -1.31, a price-to-earnings-growth ratio of 1.30 and a beta of 1.74. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business has a 50 day simple moving average of $10.68 and a 200-day simple moving average of $10.95.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. On average, analysts anticipate that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.86%. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PARA shares. Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Finally, Guggenheim cut their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Eight equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and an average price target of $12.40.

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.