Executive Wealth Management LLC Acquires Shares of 15,029 Paramount Global (NASDAQ:PARA)

Executive Wealth Management LLC bought a new position in shares of Paramount Global (NASDAQ:PARA) in the third quarter, Holdings Channel reports. The fund bought 15,029 shares of the company’s stock, valued at approximately $160,000.

A number of other institutional investors also recently modified their holdings of the business. Lingotto Investment Management LLP increased its stake in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after acquiring an additional 25,829,185 shares during the period. Vanguard Group Inc. increased its position in shares of Paramount Global by 6.5% in the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after purchasing an additional 3,803,928 shares during the period. Capitolis Liquid Global Markets LLC acquired a new position in Paramount Global in the first quarter valued at about $33,191,000. Jane Street Group LLC lifted its position in Paramount Global by 323.5% during the first quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock worth $32,417,000 after purchasing an additional 2,103,938 shares during the period. Finally, Ariel Investments LLC grew its stake in Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after buying an additional 1,992,576 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

PARA stock opened at $11.07 on Friday. The company has a fifty day moving average price of $10.52 and a 200-day moving average price of $11.10. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the company earned $0.30 EPS. Paramount Global’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that Paramount Global will post 1.61 EPS for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is presently -2.43%.

Wall Street Analyst Weigh In

PARA has been the subject of a number of recent analyst reports. Guggenheim cut their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their price target 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. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research report on Friday, August 9th. Finally, StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.57.

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.