Kovack Advisors Inc. Has $166,000 Stock Position in Paramount Global (NASDAQ:PARA)

Kovack Advisors Inc. increased its position in Paramount Global (NASDAQ:PARA) by 21.6% in the first quarter, Holdings Channel.com reports. The firm owned 14,118 shares of the company’s stock after acquiring an additional 2,508 shares during the period. Kovack Advisors Inc.’s holdings in Paramount Global were worth $166,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 58,286,539 shares of the company’s stock valued at $862,058,000 after acquiring an additional 626,256 shares in the last quarter. Kodai Capital Management LP bought a new stake in Paramount Global in the 4th quarter valued at approximately $84,842,000. Lingotto Investment Management LLP lifted its stake in Paramount Global by 375.8% in the 4th quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock valued at $48,388,000 after acquiring an additional 2,577,978 shares in the last quarter. Norges Bank bought a new stake in Paramount Global in the 4th quarter valued at approximately $41,497,000. Finally, Deutsche Bank AG lifted its stake in Paramount Global by 36.0% in the 3rd quarter. Deutsche Bank AG now owns 1,639,751 shares of the company’s stock valued at $21,153,000 after acquiring an additional 433,696 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PARA shares. JPMorgan Chase & Co. cut their target price on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a research note on Thursday, April 4th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. The Goldman Sachs Group assumed coverage on Paramount Global in a research report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price target on the stock. Wolfe Research raised Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Finally, Needham & Company LLC lowered Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.25.

Paramount Global Stock Up 3.1 %

Shares of NASDAQ PARA opened at $11.81 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average price is $11.63 and its two-hundred day moving average price is $12.30. Paramount Global has a one year low of $9.54 and a one year high of $17.50.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.73 billion. During the same period in the prior year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts anticipate that Paramount Global will post 1.31 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Monday, June 17th. Paramount Global’s dividend payout ratio is -133.32%.

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.