Kestra Private Wealth Services LLC Acquires 879 Shares of Paramount Global (NASDAQ:PARA)

Kestra Private Wealth Services LLC grew its holdings in shares of Paramount Global (NASDAQ:PARA) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,171 shares of the company’s stock after buying an additional 879 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Paramount Global were worth $431,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PARA. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global during the 3rd quarter worth about $25,000. Anchor Investment Management LLC acquired a new position in shares of Paramount Global during the 4th quarter worth about $30,000. Archer Investment Corp acquired a new position in shares of Paramount Global during the 4th quarter worth about $30,000. WFA of San Diego LLC increased its stake in shares of Paramount Global by 635.0% during the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in shares of Paramount Global by 55.1% during the 3rd quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock worth $38,000 after purchasing an additional 1,056 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Up 3.1 %

Shares of NASDAQ PARA opened at $13.29 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. Paramount Global has a 52-week low of $10.12 and a 52-week high of $17.50. The firm has a 50 day moving average price of $11.60 and a two-hundred day moving average price of $12.90.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the prior year, the company posted $0.09 earnings per share. Paramount Global’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts forecast that Paramount Global will post 1.32 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -133.32%.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research reports. Seaport Res Ptn lowered shares of Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Wolfe Research raised shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Morgan Stanley cut their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, February 27th. Needham & Company LLC downgraded shares of Paramount Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price objective on shares of Paramount Global in a report on Tuesday, April 9th. Ten investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $13.58.

About Paramount Global

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.