CVA Family Office LLC Acquires New Holdings in Paramount Global (NASDAQ:PARA)

CVA Family Office LLC acquired a new stake in Paramount Global (NASDAQ:PARA – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,680 shares of the company’s stock, valued at approximately $32,000.

Several other hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH acquired a new stake in shares of Paramount Global during the third quarter worth approximately $1,281,000. South Dakota Investment Council acquired a new stake in shares of Paramount Global during the third quarter worth approximately $367,000. Asset Management One Co. Ltd. acquired a new stake in shares of Paramount Global during the third quarter worth approximately $4,872,000. Versor Investments LP acquired a new stake in Paramount Global in the third quarter valued at approximately $1,850,000. Finally, Seven Eight Capital LP acquired a new stake in Paramount Global in the third quarter valued at approximately $858,000. 74.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PARA shares. Needham & Company LLC lifted their target price on shares of Paramount Global from $23.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, February 17th. Loop Capital cut shares of Paramount Global from a “hold” rating to a “sell” rating and reduced their target price for the company from $30.00 to $14.00 in a research note on Friday, December 23rd. Morgan Stanley reduced their target price on shares of Paramount Global from $15.00 to $14.00 and set an “underweight” rating for the company in a research note on Monday, December 19th. Benchmark reiterated a “buy” rating and issued a $31.00 target price on shares of Paramount Global in a research note on Wednesday, February 15th. Finally, Guggenheim lifted their target price on shares of Paramount Global from $20.00 to $22.00 in a research note on Thursday, January 12th. Eleven investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and an average target price of $21.86.

Paramount Global Trading Up 0.9 %

Shares of Paramount Global stock opened at $19.97 on Friday. The firm has a market capitalization of $12.96 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 3.43 and a beta of 1.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.23 and a quick ratio of 1.11. The company’s fifty day moving average price is $21.76 and its two-hundred day moving average price is $20.20. Paramount Global has a 52-week low of $15.29 and a 52-week high of $39.21.

Paramount Global (NASDAQ:PARA – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.10). The business had revenue of $8.13 billion during the quarter, compared to the consensus estimate of $8.16 billion. Paramount Global had a net margin of 3.66% and a return on equity of 5.03%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.26 EPS. On average, analysts expect that Paramount Global will post 0.65 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 20th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.81%. The ex-dividend date is Friday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently 60.00%.

Paramount Global Company Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.