Paramount Global (NASDAQ:PARA) Stake Lessened by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC lowered its stake in Paramount Global (NASDAQ:PARA) by 37.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 299,158 shares of the company’s stock after selling 177,973 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Paramount Global were worth $3,129,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Carson Advisory Inc. grew its stake in Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after buying an additional 1,004 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Paramount Global by 8.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after buying an additional 1,356 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Paramount Global by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after purchasing an additional 1,481 shares in the last quarter. Huntington National Bank increased its stake in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares during the period. Finally, Blue Trust Inc. raised its holdings in Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after purchasing an additional 1,573 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

PARA has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Macquarie restated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Finally, StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $10.88 on Friday. The business has a fifty day simple moving average of $10.75 and a 200 day simple moving average of $10.75. 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 12 month low of $9.54 and a 12 month high of $15.70.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. Sell-side analysts predict that Paramount Global will post 1.78 EPS for the current fiscal year.

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.