Cary Street Partners Investment Advisory LLC grew its stake in shares of Paramount Global (NASDAQ:PARA – Free Report) by 91,293.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,623 shares of the company’s stock after buying an additional 14,607 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Paramount Global were worth $233,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in PARA. Hedges Asset Management LLC increased its stake in Paramount Global by 2.0% during the second quarter. Hedges Asset Management LLC now owns 30,800 shares of the company’s stock worth $490,000 after acquiring an additional 600 shares during the last quarter. Horrell Capital Management Inc. raised its holdings in Paramount Global by 61.3% in the first quarter. Horrell Capital Management Inc. now owns 1,613 shares of the company’s stock valued at $36,000 after buying an additional 613 shares during the period. Ellevest Inc. lifted its position in Paramount Global by 65.3% during the first quarter. Ellevest Inc. now owns 1,701 shares of the company’s stock valued at $38,000 after buying an additional 672 shares in the last quarter. Capital Advisors Ltd. LLC grew its stake in Paramount Global by 130.0% during the first quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the company’s stock worth $27,000 after buying an additional 685 shares during the period. Finally, Pitcairn Co. increased its position in shares of Paramount Global by 5.3% in the first quarter. Pitcairn Co. now owns 16,646 shares of the company’s stock worth $371,000 after acquiring an additional 831 shares in the last quarter. 72.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on PARA shares. Raymond James started coverage on shares of Paramount Global in a research report on Monday, September 18th. They set a “market perform” rating for the company. Citigroup lowered their target price on Paramount Global from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, August 15th. Needham & Company LLC reduced their price target on Paramount Global from $28.00 to $15.00 and set a “buy” rating on the stock in a research report on Monday, October 9th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Paramount Global in a research report on Friday, October 6th. Finally, TheStreet cut shares of Paramount Global from a “c-” rating to a “d+” rating in a research report on Friday, October 27th. Ten analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Paramount Global has a consensus rating of “Hold” and a consensus price target of $15.72.
Paramount Global Stock Performance
PARA opened at $13.93 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.09 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $12.35 and its 200-day moving average is $14.37. The stock has a market cap of $9.07 billion, a PE ratio of -7.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.76. Paramount Global has a twelve month low of $10.51 and a twelve month high of $25.93.
Paramount Global Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.05 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.44%. Paramount Global’s payout ratio is -11.24%.
Paramount Global Company Profile
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.
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