Empower Advisory Group LLC Makes New $216,000 Investment in Paramount Global (NASDAQ:PARA)

Empower Advisory Group LLC acquired a new stake in shares of Paramount Global (NASDAQ:PARA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,914 shares of the company’s stock, valued at approximately $216,000.

Other institutional investors also recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in Paramount Global by 27.2% during the 1st quarter. Advisory Services Network LLC now owns 18,285 shares of the company’s stock valued at $408,000 after purchasing an additional 3,910 shares in the last quarter. Chevy Chase Trust Holdings LLC raised its stake in Paramount Global by 1.0% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 293,633 shares of the company’s stock worth $6,551,000 after acquiring an additional 3,012 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Paramount Global by 4.6% during the 1st quarter. Thrivent Financial for Lutherans now owns 22,626 shares of the company’s stock worth $505,000 after acquiring an additional 997 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in Paramount Global by 15.0% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 80,211 shares of the company’s stock worth $1,790,000 after acquiring an additional 10,464 shares during the period. Finally, Pacific Center for Financial Services purchased a new stake in Paramount Global during the 1st quarter valued at about $35,000. 72.39% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Price Performance

Paramount Global stock opened at $14.06 on Monday. The stock has a market capitalization of $9.15 billion, a P/E ratio of -7.48, a P/E/G ratio of 5.31 and a beta of 1.66. The company’s fifty day moving average price is $15.03 and its 200 day moving average price is $17.37. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.17. Paramount Global has a 1 year low of $12.84 and a 1 year high of $25.93.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Monday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.11. Paramount Global had a negative net margin of 3.89% and a positive return on equity of 2.15%. The firm had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.44 billion. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that Paramount Global will post 0.46 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, September 14th. Paramount Global’s dividend payout ratio is presently -10.64%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PARA. Rosenblatt Securities reaffirmed a “sell” rating and set a $12.00 target price on shares of Paramount Global in a report on Tuesday, August 8th. Benchmark increased their price objective on shares of Paramount Global from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $28.00 target price on shares of Paramount Global in a report on Tuesday, August 8th. Citigroup lowered their price target on shares of Paramount Global from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. Finally, Evercore ISI reduced their price objective on Paramount Global from $18.00 to $15.00 and set an “in-line” rating for the company in a research note on Monday, July 24th. Eight investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Paramount Global has an average rating of “Hold” and an average target price of $19.16.

About Paramount Global

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.