Kingswood Wealth Advisors LLC Takes Position in Paramount Global (NASDAQ:PARA)

Kingswood Wealth Advisors LLC bought a new stake in Paramount Global (NASDAQ:PARAFree Report) in the fourth quarter, HoldingsChannel reports. The fund bought 38,813 shares of the company’s stock, valued at approximately $574,000.

A number of other large investors have also modified their holdings of the stock. VisionPoint Advisory Group LLC acquired a new stake in Paramount Global during the 3rd quarter valued at approximately $25,000. Anchor Investment Management LLC acquired a new stake in Paramount Global during the 4th quarter valued at approximately $30,000. Cornerstone Planning Group LLC acquired a new stake in Paramount Global during the 2nd quarter valued at approximately $30,000. ICA Group Wealth Management LLC acquired a new stake in Paramount Global during the 4th quarter valued at approximately $32,000. Finally, WFA of San Diego LLC grew its stake in Paramount Global by 635.0% during the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after purchasing an additional 2,286 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Down 0.7 %

Shares of PARA stock opened at $11.37 on Wednesday. Paramount Global has a 1 year low of $10.16 and a 1 year high of $24.00. The business’s fifty day moving average is $12.30 and its 200-day moving average is $13.06. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63.

Paramount Global (NASDAQ:PARAGet Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. The company had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. Analysts forecast that Paramount Global will post 1.21 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, March 14th. Paramount Global’s payout ratio is -19.61%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PARA shares. Raymond James restated a “market perform” rating on shares of Paramount Global in a research note on Tuesday. Benchmark decreased their target price on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Paramount Global in a research report on Thursday, February 29th. Redburn Atlantic downgraded Paramount Global from a “neutral” rating to a “sell” rating and cut their price target for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Finally, Morgan Stanley cut 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, February 27th. Ten equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.05.

Check Out Our Latest Stock Analysis on PARA

Paramount Global Company Profile

(Free Report)

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 ChilevisiĆ³n; 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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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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