Carson Advisory Inc. Buys 10,204 Shares of Paramount Global (NASDAQ:PARA)

Carson Advisory Inc. increased its stake in shares of Paramount Global (NASDAQ:PARA) by 22.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 55,218 shares of the company’s stock after purchasing an additional 10,204 shares during the quarter. Carson Advisory Inc.’s holdings in Paramount Global were worth $660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PARA. Contrarius Group Holdings Ltd bought a new position in Paramount Global during the 4th quarter worth approximately $146,230,000. Norges Bank bought a new position in Paramount Global during the 4th quarter worth approximately $45,202,000. Slate Path Capital LP grew its position in Paramount Global by 42.3% during the 4th quarter. Slate Path Capital LP now owns 12,586,000 shares of the company’s stock worth $131,650,000 after acquiring an additional 3,741,000 shares during the last quarter. Two Sigma Investments LP bought a new position in Paramount Global during the 4th quarter worth approximately $21,229,000. Finally, New Age Alpha Advisors LLC bought a new position in Paramount Global during the 4th quarter worth approximately $20,292,000. 73.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PARA has been the topic of a number of recent analyst reports. UBS Group cut their price objective on Paramount Global from $11.00 to $10.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Wednesday, May 21st. Wall Street Zen started coverage on Paramount Global in a research report on Saturday, May 17th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Wednesday, April 2nd. Finally, Guggenheim restated a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research report on Thursday, June 26th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.67.

Paramount Global Stock Performance

Shares of PARA opened at $12.94 on Friday. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of -1.57, a PEG ratio of 3.93 and a beta of 1.19. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84. The business has a 50-day simple moving average of $12.26 and a two-hundred day simple moving average of $11.54. Paramount Global has a 52 week low of $9.95 and a 52 week high of $13.29.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

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.