Greatmark Investment Partners Inc. Raises Position in Paramount Global (NASDAQ:PARA)

Greatmark Investment Partners Inc. boosted its stake in Paramount Global (NASDAQ:PARA) by 68.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,410 shares of the company’s stock after buying an additional 51,656 shares during the period. Greatmark Investment Partners Inc.’s holdings in Paramount Global were worth $1,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PARA. Allworth Financial LP increased its position 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 valued at $25,000 after acquiring an additional 1,395 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after acquiring an additional 1,481 shares in the last quarter. Huntington National Bank increased its position in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Paramount Global by 10.4% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock valued at $187,000 after acquiring an additional 1,663 shares in the last quarter. Finally, Insight Inv LLC increased its position in shares of Paramount Global by 9.8% during the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after acquiring an additional 1,825 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Trading Up 0.4 %

Shares of PARA stock opened at $11.69 on Friday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The firm has a fifty day moving average price of $11.03 and a 200-day moving average price of $10.79. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market cap of $7.80 billion, a price-to-earnings ratio of -1.42, a PEG ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, equities analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Guggenheim reissued a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley lifted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.10.

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.