Paramount Global (NASDAQ:PARA) Shares Bought by Great Valley Advisor Group Inc.

Great Valley Advisor Group Inc. raised its holdings in shares of Paramount Global (NASDAQ:PARA) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,786 shares of the company’s stock after acquiring an additional 1,846 shares during the period. Great Valley Advisor Group Inc.’s holdings in Paramount Global were worth $231,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Blue Trust Inc. lifted its position in Paramount Global by 162.8% during the third 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 during the period. Huntington National Bank boosted its stake in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC purchased a new position in Paramount Global during the second quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new position in Paramount Global in the second quarter valued at approximately $43,000. Finally, Kennebec Savings Bank purchased a new stake in Paramount Global in the 3rd quarter worth approximately $47,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Stock Up 1.2 %

Shares of NASDAQ PARA opened at $10.77 on Thursday. The stock has a market cap of $7.18 billion, a PE ratio of -1.31, a P/E/G ratio of 1.34 and a beta of 1.74. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a 50-day moving average of $10.68 and a 200 day moving average of $10.95.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period in the prior year, the business earned $0.30 earnings per share. The business’s revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.86%. Paramount Global’s dividend payout ratio is presently -2.43%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PARA shares. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Friday, August 9th. Guggenheim lowered their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie reaffirmed an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Eight analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Paramount Global currently has an average rating of “Hold” and an average target price of $12.40.

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.