Paramount Global (NASDAQ:PARA) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. decreased its position in Paramount Global (NASDAQ:PARA) by 41.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,183 shares of the company’s stock after selling 7,228 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Paramount Global were worth $107,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Raymond James & Associates increased its holdings in shares of Paramount Global by 11.6% in the second quarter. Raymond James & Associates now owns 387,643 shares of the company’s stock valued at $4,028,000 after buying an additional 40,362 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Paramount Global by 66.3% during the second quarter. Fifth Third Bancorp now owns 28,331 shares of the company’s stock worth $294,000 after purchasing an additional 11,295 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of Paramount Global by 1.6% during the second quarter. Retirement Systems of Alabama now owns 159,049 shares of the company’s stock valued at $1,653,000 after purchasing an additional 2,562 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Paramount Global by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock valued at $38,698,000 after purchasing an additional 225,191 shares during the period. Finally, State of Michigan Retirement System increased its stake in Paramount Global by 6.5% in the 2nd quarter. State of Michigan Retirement System now owns 190,748 shares of the company’s stock worth $1,982,000 after purchasing an additional 11,600 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of PARA stock opened at $10.66 on Monday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $15.70. The stock’s 50-day moving average is $10.84 and its two-hundred day moving average is $10.80. 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 firm has a market cap of $7.11 billion, a P/E ratio of -1.30, a PEG ratio of 1.35 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter last year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts predict that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio is presently -2.43%.

Analyst Ratings Changes

PARA has been the subject of a number of analyst reports. Macquarie reaffirmed an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, Guggenheim reduced their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.43.

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.