Paramount Global (NASDAQ:PARA) Stake Lifted by Carson Advisory Inc.

Carson Advisory Inc. grew its holdings in shares of Paramount Global (NASDAQ:PARA) by 10.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 49,630 shares of the company’s stock after acquiring an additional 4,603 shares during the quarter. Carson Advisory Inc.’s holdings in Paramount Global were worth $734,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PARA. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Paramount Global by 24.3% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 16,275 shares of the company’s stock valued at $210,000 after buying an additional 3,178 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Paramount Global by 9.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 137,439 shares of the company’s stock valued at $1,773,000 after purchasing an additional 11,300 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Paramount Global by 11.3% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 144,324 shares of the company’s stock valued at $1,862,000 after purchasing an additional 14,642 shares during the period. Xponance Inc. boosted its position in shares of Paramount Global by 8.3% in the 3rd quarter. Xponance Inc. now owns 87,885 shares of the company’s stock valued at $1,134,000 after purchasing an additional 6,751 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Paramount Global by 4.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 411,864 shares of the company’s stock valued at $5,313,000 after purchasing an additional 18,931 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of NASDAQ PARA traded up $1.60 during mid-day trading on Thursday, reaching $13.86. 64,250,320 shares of the company’s stock were exchanged, compared to its average volume of 19,728,994. The firm has a 50-day moving average price of $11.48 and a two-hundred day moving average price of $12.87. Paramount Global has a 52 week low of $10.12 and a 52 week high of $23.45. The firm has a market capitalization of $9.04 billion, a price-to-earnings ratio of -92.00, a price-to-earnings-growth ratio of 0.41 and a beta of 1.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.17.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $0.09 EPS. Analysts predict that Paramount Global will post 1.18 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.44%. Paramount Global’s payout ratio is -133.33%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PARA shares. StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a research report on Tuesday. Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Tuesday. Morgan Stanley cut their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. cut their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and a consensus price target of $13.58.

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.