Vontobel Holding Ltd. Sells 126,405 Shares of Paramount Global (NASDAQ:PARA)

Vontobel Holding Ltd. lowered its holdings in shares of Paramount Global (NASDAQ:PARA) by 52.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,834 shares of the company’s stock after selling 126,405 shares during the period. Vontobel Holding Ltd.’s holdings in Paramount Global were worth $1,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. VisionPoint Advisory Group LLC bought a new position in shares of Paramount Global in the third quarter worth approximately $25,000. Anchor Investment Management LLC bought a new position in Paramount Global in the 4th quarter valued at approximately $30,000. Cornerstone Planning Group LLC purchased a new stake in Paramount Global during the 2nd quarter valued at $30,000. ICA Group Wealth Management LLC purchased a new stake in Paramount Global during the 4th quarter valued at $32,000. Finally, WFA of San Diego LLC increased its holdings in shares of Paramount Global by 635.0% in the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after purchasing an additional 2,286 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

PARA opened at $12.44 on Friday. The company has a 50 day simple moving average of $11.52 and a two-hundred day simple moving average of $12.85. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Paramount Global has a 1-year low of $10.12 and a 1-year high of $24.00.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.80 billion. During the same quarter in the prior year, the business posted $0.08 EPS. Paramount Global’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Paramount Global will post 1.2 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. Paramount Global’s dividend payout ratio is presently -19.61%.

Analyst Upgrades and Downgrades

PARA has been the topic of several recent analyst reports. Moffett Nathanson raised Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a research report on Tuesday, January 9th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. dropped their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Paramount Global in a research note on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.79.

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.