Prestige Wealth Management Group LLC Buys 3,374 Shares of Paramount Global (NASDAQ:PARA)

Prestige Wealth Management Group LLC boosted its stake in Paramount Global (NASDAQ:PARA) by 35.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,762 shares of the company’s stock after buying an additional 3,374 shares during the period. Prestige Wealth Management Group LLC’s holdings in Paramount Global were worth $134,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock worth $80,993,000 after acquiring an additional 348,298 shares in the last quarter. Bridgewater Associates LP boosted its stake in Paramount Global by 50.7% in the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after purchasing an additional 110,357 shares in the last quarter. Franklin Resources Inc. boosted its stake in Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. increased its stake in shares of Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after buying an additional 265,408 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Paramount Global by 24.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after buying an additional 908,515 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Down 0.3 %

Paramount Global stock opened at $11.61 on Wednesday. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The firm has a market capitalization of $7.74 billion, a PE ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. The company’s 50-day moving average is $11.20 and its 200-day moving average is $10.86. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Sell-side analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.72%. Paramount Global’s dividend payout ratio is currently -2.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PARA shares. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com began coverage on shares of Paramount Global in a report on Saturday. They issued a “hold” rating for the company. Finally, Benchmark reissued a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.10.

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.