Paramount Global (NASDAQ:PARA) Shares Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC boosted its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 106.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,698 shares of the company's stock after buying an additional 35,444 shares during the period. Kingswood Wealth Advisors LLC's holdings in Paramount Global were worth $808,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PARA. Allworth Financial LP grew its position in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Paramount Global by 3.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 237,966 shares of the company's stock worth $2,489,000 after buying an additional 6,839 shares during the period. CIBC Asset Management Inc boosted its position in shares of Paramount Global by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 85,095 shares of the company's stock worth $890,000 after buying an additional 2,052 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Paramount Global in the fourth quarter valued at $175,000. Finally, Ieq Capital LLC acquired a new stake in shares of Paramount Global in the fourth quarter valued at $111,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 21st. Citigroup reaffirmed a "neutral" rating and set a $12.00 price objective (down previously from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley lowered their price target on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Finally, Benchmark lowered their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday, May 6th. Six analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $11.33.

Paramount Global Price Performance

Shares of Paramount Global stock traded up $0.31 during trading on Friday, hitting $12.35. 27,147,335 shares of the company were exchanged, compared to its average volume of 9,404,447. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84. Paramount Global has a fifty-two week low of $9.83 and a fifty-two week high of $12.54. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of -1.50, a P/E/G ratio of 3.73 and a beta of 1.19. The firm has a 50 day moving average price of $11.72 and a 200 day moving average price of $11.29.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The company had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. Paramount Global's revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. On average, equities analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, June 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. Paramount Global's dividend payout ratio is presently -2.43%.

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.