International Assets Investment Management LLC Increases Position in Paramount Global (NASDAQ:PARA)

International Assets Investment Management LLC raised its stake in Paramount Global (NASDAQ:PARA - Free Report) by 825.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440,620 shares of the company's stock after buying an additional 393,027 shares during the period. International Assets Investment Management LLC owned approximately 0.07% of Paramount Global worth $4,679,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PARA. Allspring Global Investments Holdings LLC boosted its position in shares of Paramount Global by 3.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company's stock worth $291,000 after buying an additional 934 shares in the last quarter. Great Valley Advisor Group Inc. grew its position in shares of Paramount Global by 5.3% in the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company's stock valued at $207,000 after purchasing an additional 1,002 shares during the last quarter. Prestige Wealth Management Group LLC increased its stake 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 purchasing an additional 1,011 shares in the last quarter. GAMMA Investing LLC increased its stake 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 purchasing an additional 1,067 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised 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 purchasing an additional 1,356 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Evercore ISI dropped their price target on Paramount Global from $13.00 to $11.50 and set an "in-line" rating for the company in a research report on Tuesday, July 9th. 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 research report on Friday, August 9th. StockNews.com lowered shares of Paramount Global from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Benchmark reaffirmed a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Finally, Needham & Company LLC reissued 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 company. Based on data from MarketBeat.com, Paramount Global presently has a consensus rating of "Hold" and a consensus price target of $12.33.

Paramount Global Trading Up 0.4 %

PARA traded up $0.04 during trading on Friday, hitting $10.98. 6,577,430 shares of the company's stock were exchanged, compared to its average volume of 5,352,271. The stock has a 50 day moving average price of $10.47 and a 200 day moving average price of $11.12. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. 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 firm has a market cap of $7.32 billion, a P/E ratio of -1.41, a price-to-earnings-growth ratio of 1.64 and a beta of 1.74.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.40. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. As a group, analysts expect that Paramount Global will post 1.61 EPS for the current fiscal 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 issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global's dividend payout ratio is presently -2.57%.

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.