Paramount Global (NASDAQ:PARA) Shares Acquired by Hoertkorn Richard Charles

Hoertkorn Richard Charles lifted its stake in Paramount Global (NASDAQ:PARA - Free Report) by 10.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,485 shares of the company's stock after purchasing an additional 23,419 shares during the period. Paramount Global makes up 1.4% of Hoertkorn Richard Charles' investment portfolio, making the stock its 22nd largest holding. Hoertkorn Richard Charles' holdings in Paramount Global were worth $3,020,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ossiam increased its position in Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after buying an additional 1,022 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its stake in Paramount Global by 2.3% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 51,913 shares of the company's stock valued at $621,000 after purchasing an additional 1,143 shares during the last quarter. SOL Capital Management CO boosted its stake in shares of Paramount Global by 0.7% during the 1st quarter. SOL Capital Management CO now owns 181,874 shares of the company's stock worth $2,175,000 after purchasing an additional 1,270 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Paramount Global by 4.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 33,372 shares of the company's stock valued at $391,000 after buying an additional 1,359 shares during the last quarter. Finally, Grandview Asset Management LLC lifted its stake in shares of Paramount Global by 5.3% in the 1st quarter. Grandview Asset Management LLC now owns 30,128 shares of the company's stock valued at $360,000 after purchasing an additional 1,503 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on PARA shares. Morgan Stanley cut their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen assumed coverage on Paramount Global in a research note on Saturday, May 17th. They set a "hold" rating on the stock. Citigroup reaffirmed a "neutral" rating and set a $12.00 target price (down from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. UBS Group dropped their price target on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Finally, Benchmark cut their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Paramount Global has an average rating of "Hold" and a consensus price target of $11.50.

Paramount Global Stock Up 1.7%

PARA opened at $12.53 on Friday. The firm has a market cap of $8.45 billion, a price-to-earnings ratio of -1.52, a PEG ratio of 3.73 and a beta of 1.19. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.18 and a current ratio of 1.29. The firm's 50-day simple moving average is $11.87 and its 200-day simple moving average is $11.34. Paramount Global has a twelve month low of $9.95 and a twelve month high of $12.54.

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

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.60%. Paramount Global's payout ratio is -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.

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