Ellevest Inc. grew its holdings in shares of Paramount Global (NASDAQ:PARA – Free Report) by 65.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,701 shares of the company’s stock after buying an additional 672 shares during the period. Ellevest Inc.’s holdings in Paramount Global were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Texas Permanent School Fund Corp raised its holdings in Paramount Global by 46.7% during the first quarter. Texas Permanent School Fund Corp now owns 105,290 shares of the company’s stock worth $2,349,000 after purchasing an additional 33,535 shares in the last quarter. Metis Global Partners LLC bought a new stake in Paramount Global during the fourth quarter worth approximately $366,000. IFP Advisors Inc raised its holdings in Paramount Global by 2.6% during the fourth quarter. IFP Advisors Inc now owns 82,549 shares of the company’s stock worth $3,393,000 after purchasing an additional 2,099 shares in the last quarter. Balentine LLC raised its holdings in Paramount Global by 418.4% during the fourth quarter. Balentine LLC now owns 97,410 shares of the company’s stock worth $1,644,000 after purchasing an additional 78,619 shares in the last quarter. Finally, Riverview Capital Advisers LLC raised its holdings in Paramount Global by 2.1% during the first quarter. Riverview Capital Advisers LLC now owns 81,545 shares of the company’s stock worth $1,819,000 after purchasing an additional 1,650 shares in the last quarter. Institutional investors own 77.42% of the company’s stock.
Paramount Global Price Performance
NASDAQ PARA opened at $15.63 on Friday. Paramount Global has a twelve month low of $13.80 and a twelve month high of $27.49. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average price is $15.88 and its two-hundred day moving average price is $19.09.
Paramount Global Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, September 14th. Paramount Global’s dividend payout ratio is currently -25.64%.
Insider Activity
In related news, Director Shari Redstone purchased 165,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were acquired at an average cost of $15.06 per share, for a total transaction of $2,484,900.00. Following the acquisition, the director now directly owns 577,064 shares in the company, valued at approximately $8,690,583.84. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Loop Capital raised Paramount Global from a “sell” rating to a “hold” rating and set a $14.00 target price on the stock in a report on Friday, May 26th. Wolfe Research lowered shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $14.00 price target on the stock. in a research report on Friday, July 7th. Citigroup decreased their price target on shares of Paramount Global from $32.00 to $22.00 in a research report on Monday, May 15th. Evercore ISI decreased their price target on shares of Paramount Global from $18.00 to $15.00 and set an “in-line” rating on the stock in a research report on Monday, July 24th. Finally, StockNews.com began coverage on shares of Paramount Global in a research report on Thursday, May 18th. They issued a “sell” rating on the stock. Eight equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Paramount Global currently has an average rating of “Hold” and an average price target of $19.95.
Paramount Global Profile
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.
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