Paramount Global (NASDAQ:PARA) Shares Bought by Valley National Advisers Inc.

Valley National Advisers Inc. lifted its stake in shares of Paramount Global (NASDAQ:PARA) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,578 shares of the company’s stock after acquiring an additional 3,164 shares during the period. Valley National Advisers Inc.’s holdings in Paramount Global were worth $383,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC purchased a new stake in shares of Paramount Global during the third quarter worth about $25,000. Anchor Investment Management LLC acquired a new stake in Paramount Global during the fourth quarter worth approximately $30,000. Archer Investment Corp purchased a new stake in Paramount Global in the 4th quarter worth approximately $30,000. Friedenthal Financial acquired a new position in Paramount Global in the 4th quarter valued at $39,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Paramount Global during the 4th quarter worth $44,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Up 6.9 %

Shares of PARA opened at $11.46 on Thursday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The firm’s 50 day moving average is $11.65 and its 200-day moving average is $12.33. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.28. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates 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 was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. On average, sell-side analysts anticipate that Paramount Global will post 1.31 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Monday, June 17th. Paramount Global’s dividend payout ratio is presently -133.32%.

Analysts Set New Price Targets

PARA has been the topic of a number of research analyst reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $14.00 price target on shares of Paramount Global in a report on Tuesday, June 4th. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Wells Fargo & Company downgraded Paramount Global from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $14.00 to $9.00 in a report on Wednesday, June 12th. JPMorgan Chase & Co. decreased their price target on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Finally, The Goldman Sachs Group began coverage on Paramount Global in a research report on Tuesday, June 25th. They issued a “sell” rating and a $9.50 target price on the stock. Ten research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and a consensus target price of $13.29.

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.