Mount Yale Investment Advisors LLC Invests $4.52 Million in Paramount Global (NASDAQ:PARA)

Mount Yale Investment Advisors LLC bought a new stake in shares of Paramount Global (NASDAQ:PARA - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 425,822 shares of the company's stock, valued at approximately $4,522,000. Mount Yale Investment Advisors LLC owned about 0.06% of Paramount Global as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company's stock valued at $730,805,000 after purchasing an additional 3,803,928 shares during the last quarter. Lingotto Investment Management LLP grew its holdings in shares of Paramount Global by 628.8% during the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company's stock valued at $311,046,000 after buying an additional 25,829,185 shares during the last quarter. Ariel Investments LLC increased its position in shares of Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company's stock valued at $145,899,000 after acquiring an additional 1,992,576 shares in the last quarter. Kodai Capital Management LP raised its holdings in Paramount Global by 9.2% in the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company's stock worth $73,732,000 after acquiring an additional 527,897 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Paramount Global by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company's stock valued at $38,698,000 after acquiring an additional 225,191 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Performance

Shares of NASDAQ PARA traded down $0.03 during trading on Friday, hitting $10.27. The company had a trading volume of 5,680,512 shares, compared to its average volume of 15,248,965. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The firm has a market capitalization of $6.85 billion, a P/E ratio of -1.32, a price-to-earnings-growth ratio of 0.56 and a beta of 1.75. The stock has a 50 day simple moving average of $10.52 and a 200 day simple moving average of $11.13.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.40. The company had revenue of $6.81 billion for the quarter, compared to analysts' expectations of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. As a group, analysts anticipate that Paramount Global will post 1.58 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global's dividend payout ratio is currently -2.57%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PARA. Guggenheim reduced their target price on Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Wells Fargo & Company upgraded Paramount Global from an "underweight" rating to an "equal weight" rating and lifted their price objective for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Evercore ISI lowered their target price on shares of Paramount Global from $13.00 to $11.50 and set an "in-line" rating on the stock in a research note on Tuesday, July 9th. StockNews.com downgraded shares of Paramount Global from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a report on Thursday, August 15th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Paramount Global has a consensus rating of "Hold" and an average price target of $12.33.

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.