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

Hoertkorn Richard Charles lifted its stake in Paramount Global (NASDAQ:PARA) by 38.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,696 shares of the company’s stock after acquiring an additional 61,191 shares during the period. Paramount Global makes up about 1.0% of Hoertkorn Richard Charles’ holdings, making the stock its 23rd largest holding. Hoertkorn Richard Charles’ holdings in Paramount Global were worth $2,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in shares of Paramount Global by 146.5% in the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock worth $1,787,000 after acquiring an additional 90,262 shares during the period. State Board of Administration of Florida Retirement System grew its position in Paramount Global by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after buying an additional 34,541 shares in the last quarter. Financial Counselors Inc. grew its position in Paramount Global by 6.9% during the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock worth $8,980,000 after buying an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Paramount Global by 33.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock worth $4,790,000 after buying an additional 103,103 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Paramount Global by 798.0% during the second quarter. Canada Pension Plan Investment Board now owns 684,300 shares of the company’s stock worth $7,110,000 after buying an additional 608,100 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Guggenheim reduced 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. StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. Benchmark restated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. dropped their price target 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. Nine equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.33.

Paramount Global Trading Up 0.3 %

NASDAQ PARA opened at $10.34 on Thursday. Paramount Global has a 1-year low of $9.54 and a 1-year 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 50-day moving average of $10.54 and a 200-day moving average of $11.14.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. The business had revenue of $6.81 billion during 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%. Research analysts expect that Paramount Global will post 1.58 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is -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.