Missouri Trust & Investment Co Reduces Holdings in Paramount Global (NASDAQ:PARA)

Missouri Trust & Investment Co lowered its position in Paramount Global (NASDAQ:PARA) by 45.9% during the third quarter, HoldingsChannel reports. The firm owned 36,655 shares of the company’s stock after selling 31,060 shares during the period. Missouri Trust & Investment Co’s holdings in Paramount Global were worth $389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Paramount Global by 3.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after buying an additional 934 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Paramount Global by 4.3% in the first quarter. Texas Permanent School Fund Corp now owns 99,705 shares of the company’s stock valued at $1,174,000 after purchasing an additional 4,152 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Paramount Global by 1.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 160,114 shares of the company’s stock worth $1,885,000 after buying an additional 2,440 shares in the last quarter. Empowered Funds LLC boosted its stake in Paramount Global by 45.1% during the first quarter. Empowered Funds LLC now owns 15,270 shares of the company’s stock worth $180,000 after buying an additional 4,748 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Paramount Global by 109.9% in the 1st quarter. SG Americas Securities LLC now owns 100,473 shares of the company’s stock valued at $1,183,000 after buying an additional 52,614 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PARA shares. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Monday. Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $11.00 in a report on Friday, August 9th. Guggenheim reduced their target price 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. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday. Eight research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.40.

Paramount Global Stock Down 1.2 %

Shares of NASDAQ PARA traded down $0.14 during mid-day trading on Tuesday, reaching $11.41. The company had a trading volume of 1,784,346 shares, compared to its average volume of 14,852,206. The firm has a 50 day simple moving average of $10.54 and a two-hundred day simple moving average of $11.09. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.61 billion, a P/E ratio of -1.41, a PEG ratio of 1.66 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the prior year, the firm earned $0.30 EPS. The business’s revenue was down 5.6% on a year-over-year basis. Sell-side analysts predict that Paramount Global will post 1.61 earnings per share for the current year.

Paramount Global Announces Dividend

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 issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is presently -2.43%.

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.