Merit Financial Group LLC Has $204,000 Holdings in Paramount Global (NASDAQ:PARA)

Merit Financial Group LLC boosted its position in Paramount Global (NASDAQ:PARA) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,773 shares of the company’s stock after buying an additional 1,242 shares during the period. Merit Financial Group LLC’s holdings in Paramount Global were worth $204,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PARA. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global in the 3rd quarter valued at about $25,000. Anchor Investment Management LLC acquired a new position in Paramount Global in the fourth quarter valued at approximately $30,000. Archer Investment Corp bought a new position in shares of Paramount Global during the 4th quarter worth approximately $30,000. WFA of San Diego LLC grew its position 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 buying an additional 2,286 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in shares of Paramount Global by 55.1% in the 3rd quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock valued at $38,000 after acquiring an additional 1,056 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Tuesday, April 30th. Needham & Company LLC cut shares of Paramount Global from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. decreased their target price on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research report on Thursday, April 4th. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $13.00 price objective on shares of Paramount Global in a research note on Tuesday, April 9th. Nine research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.58.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $13.08 on Friday. The company has a market capitalization of $8.72 billion, a PE ratio of -87.20, a PEG ratio of 0.39 and a beta of 1.74. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $11.71 and its 200-day moving average price is $12.91. Paramount Global has a twelve month low of $10.12 and a twelve month high of $17.50.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. On average, equities analysts anticipate that Paramount Global will post 1.32 EPS for the current year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is -133.33%.

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.