Institute for Wealth Management LLC. Acquires 13,438 Shares of Paramount Global (NASDAQ:PARA)

Institute for Wealth Management LLC. lifted its holdings in shares of Paramount Global (NASDAQ:PARA) by 42.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 44,930 shares of the company’s stock after purchasing an additional 13,438 shares during the period. Institute for Wealth Management LLC.’s holdings in Paramount Global were worth $665,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highlander Capital Management LLC boosted its position in Paramount Global by 13.4% during the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after buying an additional 850 shares during the period. Arizona State Retirement System boosted its position in Paramount Global by 0.7% during the 4th quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after buying an additional 887 shares during the period. Van ECK Associates Corp boosted its position in Paramount Global by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 49,536 shares of the company’s stock valued at $639,000 after buying an additional 996 shares during the period. Thrivent Financial for Lutherans boosted its position in Paramount Global by 4.6% during the 1st quarter. Thrivent Financial for Lutherans now owns 22,626 shares of the company’s stock valued at $505,000 after buying an additional 997 shares during the period. Finally, Forum Financial Management LP boosted its position in Paramount Global by 6.8% during the 3rd quarter. Forum Financial Management LP now owns 15,610 shares of the company’s stock valued at $201,000 after buying an additional 1,000 shares during the period. Institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Morgan Stanley dropped their price target on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research report on Tuesday, January 9th. Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Paramount Global in a research report on Thursday, February 29th. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.79.

Paramount Global Stock Up 13.4 %

PARA opened at $12.44 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $11.52 and a 200-day moving average price of $12.85. Paramount Global has a twelve month low of $10.12 and a twelve month high of $24.00. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of -12.20, a PEG ratio of 0.39 and a beta of 1.77.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same period in the prior year, the company earned $0.08 earnings per share. The firm’s revenue was down 6.1% on a year-over-year basis. Equities research analysts forecast that Paramount Global will post 1.2 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. Paramount Global’s dividend payout ratio is currently -19.61%.

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.