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

Great Valley Advisor Group Inc. boosted its holdings in Paramount Global (NASDAQ:PARA) by 9.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund 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 reporting period.

Several other hedge funds also recently added to or reduced their stakes in PARA. Blue Trust Inc. lifted its holdings in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after acquiring an additional 1,573 shares during the last quarter. Huntington National Bank lifted its stake in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of Paramount Global during the second quarter worth $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paramount Global in the second quarter valued at $43,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Paramount Global in the 3rd quarter valued at $47,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PARA has been the subject of a number of research analyst reports. Macquarie restated an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. Guggenheim dropped their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.40.

Paramount Global Stock Up 1.2 %

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

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

Paramount Global Dividend Announcement

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

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.