Paramount Global (NASDAQ:PARA) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC cut its position in Paramount Global (NASDAQ:PARA) by 20.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,580,430 shares of the company’s stock after selling 674,408 shares during the quarter. Neuberger Berman Group LLC’s holdings in Paramount Global were worth $26,991,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PARA. Rockefeller Capital Management L.P. boosted its holdings in shares of Paramount Global by 9.6% in the third quarter. Rockefeller Capital Management L.P. now owns 21,146 shares of the company’s stock valued at $225,000 after acquiring an additional 1,845 shares during the period. Quantinno Capital Management LP boosted its stake in Paramount Global by 77.4% during the 3rd quarter. Quantinno Capital Management LP now owns 34,316 shares of the company’s stock worth $364,000 after purchasing an additional 14,969 shares during the period. Kovitz Investment Group Partners LLC grew its position in Paramount Global by 12.2% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 38,751 shares of the company’s stock worth $412,000 after purchasing an additional 4,200 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new position in Paramount Global in the third quarter valued at $692,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Paramount Global by 21.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 216,645 shares of the company’s stock valued at $2,301,000 after buying an additional 37,868 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of PARA opened at $10.92 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54. The company has a 50-day simple moving average of $11.37 and a 200-day simple moving average of $10.95. The company has a market capitalization of $7.28 billion, a PE ratio of -1.33, a P/E/G ratio of 1.68 and a beta of 1.31.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Equities research analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.83%. Paramount Global’s dividend payout ratio is presently -2.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PARA shares. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a research note on Wednesday, April 2nd. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Finally, StockNews.com initiated coverage on shares of Paramount Global in a research note on Monday. They issued a “hold” rating on the stock. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.09.

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.