Paramount Global (NASDAQ:PARA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in shares of Paramount Global (NASDAQ:PARA) by 5.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,009 shares of the company’s stock after selling 1,556 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Paramount Global were worth $446,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC grew its holdings in Paramount Global by 130.0% during the first quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the company’s stock worth $27,000 after acquiring an additional 685 shares during the period. ICA Group Wealth Management LLC acquired a new position in Paramount Global during the fourth quarter worth about $32,000. Pacific Center for Financial Services acquired a new position in Paramount Global during the first quarter worth about $35,000. Horrell Capital Management Inc. grew its holdings in Paramount Global by 61.3% during the first quarter. Horrell Capital Management Inc. now owns 1,613 shares of the company’s stock worth $36,000 after acquiring an additional 613 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Paramount Global during the first quarter worth about $36,000. 72.39% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Down 0.2 %

Shares of Paramount Global stock opened at $12.10 on Friday. The firm has a market cap of $7.88 billion, a price-to-earnings ratio of -6.80, a P/E/G ratio of 3.06 and a beta of 1.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.26 and a quick ratio of 1.09. Paramount Global has a 52-week low of $10.51 and a 52-week high of $25.93. The stock has a 50-day simple moving average of $12.41 and a 200-day simple moving average of $14.85.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Thursday, December 14th. Paramount Global’s payout ratio is -11.24%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PARA. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. JPMorgan Chase & Co. increased their price target on Paramount Global from $16.00 to $17.00 and gave the company an “underweight” rating in a research report on Tuesday, August 8th. Needham & Company LLC decreased their price target on Paramount Global from $28.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, October 9th. Raymond James began coverage on Paramount Global in a research report on Monday, September 18th. They issued a “market perform” rating for the company. Finally, Morgan Stanley decreased their price target on Paramount Global from $15.00 to $9.00 and set an “underweight” rating for the company in a research report on Wednesday, November 1st. Nine analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and a consensus price target of $15.72.

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.