Atria Wealth Solutions Inc. Decreases Stock Position in Paramount Global (NASDAQ:PARA)

Atria Wealth Solutions Inc. decreased its position in shares of Paramount Global (NASDAQ:PARA) by 40.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,116 shares of the company’s stock after selling 55,506 shares during the period. Atria Wealth Solutions Inc.’s holdings in Paramount Global were worth $863,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares during the last quarter. Blue Trust Inc. grew its stake in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares in the last quarter. Huntington National Bank increased its holdings in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Paramount Global in the 3rd quarter valued at approximately $47,000. Finally, FNY Investment Advisers LLC boosted its stake in shares of Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after buying an additional 3,654 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

PARA stock opened at $11.67 on Tuesday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of -1.42, a PEG ratio of 1.68 and a beta of 1.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s fifty day moving average is $10.76 and its two-hundred day moving average is $10.72.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.71%. Paramount Global’s dividend payout ratio is presently -2.43%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Macquarie restated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.58.

Paramount Global 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.