Perigon Wealth Management LLC Has $293,000 Stock Holdings in Paramount Global (NASDAQ:PARA)

Perigon Wealth Management LLC lifted its holdings in shares of Paramount Global (NASDAQ:PARA) by 7.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,821 shares of the company’s stock after buying an additional 1,874 shares during the period. Perigon Wealth Management LLC’s holdings in Paramount Global were worth $293,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp raised its holdings in shares of Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the period. Geode Capital Management LLC raised its holdings in shares of Paramount Global by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after purchasing an additional 1,606,779 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Paramount Global by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after purchasing an additional 1,030,592 shares during the period. AustralianSuper Pty Ltd bought a new stake in shares of Paramount Global in the 3rd quarter valued at about $7,222,000. Finally, Alpine Associates Management Inc. bought a new stake in shares of Paramount Global in the 3rd quarter valued at about $5,186,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Down 0.9 %

Shares of PARA opened at $10.88 on Monday. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. The firm’s 50 day moving average is $10.75 and its 200-day moving average is $10.73. The stock has a market capitalization of $7.26 billion, a PE ratio of -1.32, a P/E/G ratio of 1.62 and a beta of 1.70. 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 (NASDAQ:PARA) last posted its quarterly 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. The business had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. Equities research analysts forecast that Paramount Global will post 1.78 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PARA. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

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.