Birmingham Capital Management Co. Inc. AL Sells 1,500 Shares of Paramount Global (NASDAQ:PARA)

Birmingham Capital Management Co. Inc. AL reduced its stake in shares of Paramount Global (NASDAQ:PARA) by 5.6% in the fourth quarter, Holdings Channel reports. The fund owned 25,300 shares of the company’s stock after selling 1,500 shares during the quarter. Birmingham Capital Management Co. Inc. AL’s holdings in Paramount Global were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of PARA. Tokio Marine Asset Management Co. Ltd. grew its holdings in Paramount Global by 5.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after buying an additional 769 shares in the last quarter. Highlander Capital Management LLC lifted its position in Paramount Global by 13.4% during the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after purchasing an additional 850 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in Paramount Global by 3.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock worth $431,000 after buying an additional 879 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Paramount Global by 0.7% in the 4th quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock worth $1,985,000 after buying an additional 887 shares during the last quarter. Finally, Cape Investment Advisory Inc. increased its holdings in shares of Paramount Global by 5.2% in the 4th quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock worth $266,000 after buying an additional 889 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PARA has been the subject of several research reports. Needham & Company LLC lowered shares of Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Argus cut Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Tuesday, April 30th. Finally, Seaport Res Ptn cut shares of Paramount Global from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Ten equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Paramount Global currently has an average rating of “Hold” and an average price target of $13.37.

Paramount Global Stock Down 1.7 %

Shares of Paramount Global stock traded down $0.18 during midday trading on Friday, hitting $10.17. The company had a trading volume of 15,125,003 shares, compared to its average volume of 19,191,588. The company has a 50 day moving average of $11.99 and a 200 day moving average of $12.86. The stock has a market capitalization of $6.78 billion, a P/E ratio of -69.66, a P/E/G ratio of 0.34 and a beta of 1.78. Paramount Global has a 52-week low of $10.12 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.28. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. On average, equities analysts predict that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.97%. Paramount Global’s dividend payout ratio is presently -133.32%.

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.