425,822 Shares in Paramount Global (NASDAQ:PARA) Bought by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC purchased a new stake in shares of Paramount Global (NASDAQ:PARA) in the third quarter, HoldingsChannel.com reports. The firm purchased 425,822 shares of the company’s stock, valued at approximately $4,522,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PARA. Blue Trust Inc. lifted its stake in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in Paramount Global in the second quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new position in Paramount Global during the second quarter valued at approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Paramount Global by 518.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after buying an additional 4,100 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in shares of Paramount Global in the first quarter worth $56,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PARA has been the topic of several recent research reports. Evercore ISI reduced 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 report on Tuesday, July 9th. Guggenheim decreased their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $10.00 to $11.00 in a report on Friday, August 9th. Wolfe Research cut Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target for the company. in a report on Tuesday, July 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Nine investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.33.

Paramount Global Trading Down 0.1 %

PARA opened at $10.30 on Friday. 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 current ratio of 1.30 and a quick ratio of 1.15. The stock has a market capitalization of $6.87 billion, a PE ratio of -1.32, a P/E/G ratio of 0.56 and a beta of 1.75. The firm’s fifty day moving average price is $10.53 and its 200 day moving average price is $11.14.

Paramount Global (NASDAQ:PARA) last released its 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. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. As a group, research analysts expect that Paramount Global will post 1.58 EPS for the current fiscal year.

Paramount Global Dividend Announcement

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

Paramount Global Company 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.