Financial Counselors Inc. Acquires 3,757 Shares of Paramount Global (NASDAQ:PARA)

Financial Counselors Inc. lifted its holdings in shares of Paramount Global (NASDAQ:PARA) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 868,044 shares of the company’s stock after purchasing an additional 3,757 shares during the period. Financial Counselors Inc.’s holdings in Paramount Global were worth $9,219,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PARA. Great Valley Advisor Group Inc. boosted its position in shares of Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after acquiring an additional 1,002 shares in the last quarter. Carson Advisory Inc. boosted its position in shares of Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after acquiring an additional 1,004 shares in the last quarter. Prestige Wealth Management Group LLC boosted its position in shares of Paramount Global by 13.2% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after acquiring an additional 1,011 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock worth $60,000 after acquiring an additional 1,067 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Paramount Global by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock worth $181,000 after acquiring an additional 1,356 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $10.77 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The firm has a fifty day simple moving average of $10.68 and a 200 day simple moving average of $10.95. The company has a market capitalization of $7.18 billion, a PE ratio of -1.31, a P/E/G ratio of 1.30 and a beta of 1.74. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter last year, the firm earned $0.30 earnings per share. Paramount Global’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is currently -2.43%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PARA. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. JPMorgan Chase & Co. cut their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Finally, Guggenheim cut their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Eight investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.40.

Paramount Global Profile

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.