Allspring Global Investments Holdings LLC Sells 675 Shares of Paramount Global (NASDAQ:PARAA)

Allspring Global Investments Holdings LLC reduced its position in Paramount Global (NASDAQ:PARAA) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,067 shares of the company’s stock after selling 675 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Paramount Global were worth $447,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. First Manhattan CO. LLC. boosted its stake in Paramount Global by 624.6% in the 1st quarter. First Manhattan CO. LLC. now owns 1,000 shares of the company’s stock worth $26,000 after purchasing an additional 862 shares in the last quarter. North Star Investment Management Corp. boosted its stake in Paramount Global by 114.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,011 shares of the company’s stock worth $26,000 after purchasing an additional 540 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Paramount Global by 150.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,341 shares of the company’s stock worth $35,000 after purchasing an additional 806 shares in the last quarter. Captrust Financial Advisors acquired a new stake in Paramount Global in the 2nd quarter worth approximately $42,000. Finally, UBS Group AG acquired a new stake in Paramount Global in the 3rd quarter worth approximately $63,000. 1.14% of the stock is currently owned by institutional investors.

Paramount Global Stock Performance

PARAA opened at 15.68 on Friday. Paramount Global has a 12-month low of 13.40 and a 12-month high of 29.51. The company has a current ratio of 1.26, a quick ratio of 1.09 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $10.21 billion, a PE ratio of -8.81 and a beta of 1.63. The firm has a 50 day moving average of 15.55 and a two-hundred day moving average of 17.74.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Thursday, December 14th. Paramount Global’s dividend payout ratio is presently -11.24%.

Analysts Set New Price Targets

A number of analysts recently commented on PARAA shares. Seaport Res Ptn reiterated a “buy” rating on shares of Paramount Global in a research note on Friday, November 3rd. TheStreet lowered shares of Paramount Global from a “c-” rating to a “d+” rating in a research report on Wednesday, November 1st.

About Paramount Global

Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.