Paramount Global (NASDAQ:PARA) Shares Bought by Carson Advisory Inc.

Carson Advisory Inc. lifted its stake in shares of Paramount Global (NASDAQ:PARA) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,630 shares of the company’s stock after acquiring an additional 4,603 shares during the quarter. Carson Advisory Inc.’s holdings in Paramount Global were worth $734,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Paramount Global by 5.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock worth $220,000 after buying an additional 769 shares in the last quarter. Highlander Capital Management LLC boosted its stake in Paramount Global by 13.4% in the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after purchasing an additional 850 shares during the period. Kestra Private Wealth Services LLC boosted its stake in Paramount Global by 3.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock worth $431,000 after purchasing an additional 879 shares during the period. Arizona State Retirement System boosted its stake in Paramount Global by 0.7% in the 4th quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock worth $1,985,000 after purchasing an additional 887 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Paramount Global by 1.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,971 shares of the company’s stock worth $724,000 after purchasing an additional 897 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. JPMorgan Chase & Co. cut their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Moffett Nathanson upgraded Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research report on Tuesday, January 9th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $13.00 price target on shares of Paramount Global in a research report on Tuesday, April 9th. Nine equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.58.

Paramount Global Stock Up 13.1 %

Shares of PARA traded up $1.60 during midday trading on Thursday, hitting $13.86. The stock had a trading volume of 64,250,320 shares, compared to its average volume of 19,728,994. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of -92.00, a price-to-earnings-growth ratio of 0.41 and a beta of 1.74. The company has a 50 day simple moving average of $11.48 and a two-hundred day simple moving average of $12.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.17. Paramount Global has a twelve month low of $10.12 and a twelve month high of $23.45.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.28. The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. Paramount Global’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 EPS. On average, analysts anticipate that Paramount Global will post 1.18 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.44%. Paramount Global’s payout ratio is -133.33%.

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.