Carson Advisory Inc. Raises Stock Holdings in Paramount Global (NASDAQ:PARA)

Carson Advisory Inc. boosted its stake in shares of Paramount Global (NASDAQ:PARA) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,360 shares of the company’s stock after purchasing an additional 1,903 shares during the quarter. Carson Advisory Inc.’s holdings in Paramount Global were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PARA. Kodai Capital Management LP purchased a new stake in shares of Paramount Global during the fourth quarter valued at about $84,842,000. Vanguard Group Inc. raised its stake in shares of Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after acquiring an additional 3,803,928 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in Paramount Global during the first quarter valued at approximately $33,191,000. Norges Bank acquired a new stake in Paramount Global in the fourth quarter valued at approximately $41,497,000. Finally, Lingotto Investment Management LLP grew its holdings in Paramount Global by 375.8% in the fourth quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock worth $48,388,000 after purchasing an additional 2,577,978 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PARA. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $10.00 to $11.00 in a report on Friday, August 9th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. Ten investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Paramount Global has an average rating of “Hold” and an average target price of $12.47.

Paramount Global Stock Down 2.1 %

Paramount Global stock opened at $10.09 on Wednesday. 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. The business’s 50-day moving average price is $11.01 and its 200 day moving average price is $11.35. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -67.26, a price-to-earnings-growth ratio of 0.56 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.40. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. As a group, sell-side analysts anticipate that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

Paramount Global Company 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.