PFG Investments LLC Has $1.35 Million Stock Position in Paramount Global (NASDAQ:PARA)

PFG Investments LLC grew its stake in Paramount Global (NASDAQ:PARA) by 14.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,565 shares of the company’s stock after purchasing an additional 16,074 shares during the period. PFG Investments LLC’s holdings in Paramount Global were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Paramount Global by 6.5% in 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 period. Ariel Investments LLC grew its stake in shares of Paramount Global by 9.3% in the 1st quarter. Ariel Investments LLC now owns 12,049,689 shares of the company’s stock valued at $141,825,000 after purchasing an additional 1,028,314 shares during the period. Kodai Capital Management LP grew its stake in shares of Paramount Global by 9.2% in the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company’s stock valued at $73,732,000 after purchasing an additional 527,897 shares during the period. Bank of New York Mellon Corp grew its stake in shares of 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 purchasing an additional 225,191 shares during the period. Finally, Lingotto Investment Management LLP grew its stake in shares of Paramount Global by 375.8% in the 4th quarter. Lingotto Investment Management LLP now owns 3,263,978 shares of the company’s stock valued at $48,388,000 after purchasing an additional 2,577,978 shares during the period. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Trading Up 2.2 %

NASDAQ:PARA opened at $10.31 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of -68.73, a PEG ratio of 0.56 and a beta of 1.75. The business’s 50-day moving average price is $11.02 and its two-hundred day moving average price is $11.36.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data 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 business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. On average, equities analysts expect that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 1.94%. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PARA shares. Evercore ISI lowered their price objective on 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. The Goldman Sachs Group started coverage on Paramount Global in a research note on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $14.00 price objective on shares of Paramount Global in a report on Tuesday, June 4th. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.47.

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.