Paramount Global (NASDAQ:PARA) Holdings Raised by Carson Advisory Inc.

Carson Advisory Inc. boosted its holdings in Paramount Global (NASDAQ:PARA) by 1.9% in the third quarter, HoldingsChannel.com reports. The firm owned 54,364 shares of the company’s stock after acquiring an additional 1,004 shares during the period. Carson Advisory Inc.’s holdings in Paramount Global were worth $577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of PARA. ProShare Advisors LLC boosted its stake in Paramount Global by 146.5% in the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after acquiring an additional 90,262 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Paramount Global by 5.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after buying an additional 34,541 shares during the last quarter. Financial Counselors Inc. increased its position in Paramount Global by 6.9% in the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock worth $8,980,000 after buying an additional 56,021 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Paramount Global by 33.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after buying an additional 103,103 shares during the last quarter. Finally, Hoertkorn Richard Charles boosted its holdings in shares of Paramount Global by 38.1% during the third quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock valued at $2,354,000 after acquiring an additional 61,191 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on PARA. StockNews.com downgraded shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Friday, August 9th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $10.00 to $11.00 in a report on Friday, August 9th. JPMorgan Chase & Co. cut their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, August 15th. Finally, Benchmark reissued a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Paramount Global has an average rating of “Hold” and an average price target of $12.57.

Paramount Global Trading Down 4.0 %

NASDAQ:PARA opened at $11.07 on Friday. The stock’s 50-day moving average is $10.52 and its two-hundred day moving average is $11.12. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The stock has a market cap of $7.38 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.70 and a beta of 1.74. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. As a group, equities research analysts forecast that Paramount Global will post 1.61 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.81%. Paramount Global’s payout ratio is -2.57%.

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.