Hoertkorn Richard Charles Acquires 61,191 Shares of Paramount Global (NASDAQ:PARA)

Hoertkorn Richard Charles boosted its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 38.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,696 shares of the company's stock after purchasing an additional 61,191 shares during the period. Paramount Global comprises 1.0% of Hoertkorn Richard Charles' portfolio, making the stock its 23rd biggest holding. Hoertkorn Richard Charles' holdings in Paramount Global were worth $2,354,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of PARA. International Assets Investment Management LLC lifted its position in Paramount Global by 825.8% during the 3rd quarter. International Assets Investment Management LLC now owns 440,620 shares of the company's stock worth $4,679,000 after buying an additional 393,027 shares in the last quarter. Hartford Investment Management Co. lifted its position in Paramount Global by 17.3% during the 3rd quarter. Hartford Investment Management Co. now owns 36,788 shares of the company's stock valued at $391,000 after purchasing an additional 5,437 shares during the period. Metropolis Capital Ltd boosted its stake in shares of Paramount Global by 6.1% in the 3rd quarter. Metropolis Capital Ltd now owns 1,123,029 shares of the company's stock valued at $11,927,000 after purchasing an additional 64,681 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Paramount Global by 20.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 31,956 shares of the company's stock worth $339,000 after buying an additional 5,442 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock valued at $26,000 after buying an additional 1,573 shares during the period. Institutional investors and hedge funds own 73.00% of the company's stock.

Paramount Global Stock Down 0.1 %

Shares of Paramount Global stock traded down $0.01 during trading hours on Thursday, reaching $10.30. 3,632,188 shares of the company's stock were exchanged, compared to its average volume of 15,295,402. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The company has a 50 day moving average of $10.54 and a two-hundred day moving average of $11.14. The stock has a market cap of $6.87 billion, a P/E ratio of -1.32, a P/E/G ratio of 0.56 and a beta of 1.75. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.40. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. On average, sell-side analysts forecast that Paramount Global will post 1.58 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.94%. Paramount Global's dividend payout ratio is currently -2.57%.

Analyst Ratings Changes

PARA has been the subject of a number of analyst reports. Wells Fargo & Company raised shares of Paramount Global from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $10.00 to $11.00 in a report on Friday, August 9th. JPMorgan Chase & Co. dropped their price objective on Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a report on Thursday, August 15th. Benchmark restated a "buy" rating and set a $19.00 target price on shares of Paramount Global in a report on Friday, August 9th. StockNews.com lowered Paramount Global from a "hold" rating to a "sell" rating in a research report on Thursday, October 3rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Friday, August 9th. Nine analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.33.

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.