Hoertkorn Richard Charles Grows Stock Holdings in Paramount Global (NASDAQ:PARA)

Hoertkorn Richard Charles lifted its position in Paramount Global (NASDAQ:PARA) by 3.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 229,066 shares of the company’s stock after acquiring an additional 7,370 shares during the period. Paramount Global accounts for 1.0% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 22nd biggest holding. Hoertkorn Richard Charles’ holdings in Paramount Global were worth $2,396,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global in the 4th quarter valued at $31,000. Rakuten Securities Inc. lifted its stake in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Paramount Global during the fourth quarter worth about $57,000. Finally, FNY Investment Advisers LLC boosted its holdings in Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after purchasing an additional 3,654 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PARA shares. Guggenheim restated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. StockNews.com assumed coverage on shares of Paramount Global in a report on Saturday, March 22nd. They issued a “hold” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reissued a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley upped their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Down 1.5 %

Shares of PARA opened at $11.68 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The business’s 50 day simple moving average is $11.25 and its 200-day simple moving average is $10.87. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The firm had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities analysts expect that Paramount Global will post 1.77 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 Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

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.