Partnership Wealth Management LLC Invests $4.12 Million in Paramount Global (NASDAQ:PARA)

Partnership Wealth Management LLC bought a new stake in shares of Paramount Global (NASDAQ:PARA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 282,048 shares of the company's stock, valued at approximately $4,115,000. Paramount Global makes up approximately 3.0% of Partnership Wealth Management LLC's holdings, making the stock its 5th biggest position.

A number of other institutional investors have also bought and sold shares of the business. Ieq Capital LLC bought a new stake in shares of Paramount Global during the fourth quarter valued at approximately $221,000. Envestnet Portfolio Solutions Inc. increased its holdings in Paramount Global by 939.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 157,674 shares of the company's stock valued at $2,332,000 after acquiring an additional 142,511 shares during the last quarter. Qsemble Capital Management LP lifted its stake in Paramount Global by 538.4% in the 4th quarter. Qsemble Capital Management LP now owns 130,239 shares of the company's stock worth $1,926,000 after purchasing an additional 109,839 shares in the last quarter. Versor Investments LP bought a new position in shares of Paramount Global during the 4th quarter valued at about $296,000. Finally, Gladius Capital Management LP grew its position in shares of Paramount Global by 21.9% during the fourth quarter. Gladius Capital Management LP now owns 30,486 shares of the company's stock valued at $451,000 after purchasing an additional 5,485 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Paramount Global Stock Down 0.2 %

Shares of NASDAQ:PARA traded down $0.03 during trading on Friday, reaching $13.05. The stock had a trading volume of 9,494,516 shares, compared to its average volume of 22,884,110. The firm's 50-day simple moving average is $11.75 and its 200 day simple moving average is $12.95. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. Paramount Global has a one year low of $10.12 and a one year high of $17.50. The company has a market capitalization of $8.70 billion, a P/E ratio of -87.00, a PEG ratio of 0.40 and a beta of 1.74.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its earnings results 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 the consensus estimate of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. Paramount Global's revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $0.09 earnings per share. As a group, research analysts expect that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.53%. Paramount Global's dividend payout ratio (DPR) is -133.33%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price target on Paramount Global from $15.00 to $14.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 30th. JPMorgan Chase & Co. reduced their target price on shares of Paramount Global from $13.00 to $12.00 and set an "underweight" rating on the stock in a report on Thursday, April 4th. Seaport Res Ptn downgraded shares of Paramount Global from a "buy" rating to a "neutral" rating in a report on Thursday, May 2nd. Benchmark reissued a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a research note on Tuesday, April 30th. Finally, Wolfe Research raised Paramount Global from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 4th. Nine research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $13.58.

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.

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