OneDigital Investment Advisors LLC Takes $135,000 Position in Paramount Global (NASDAQ:PARA)

OneDigital Investment Advisors LLC acquired a new position in shares of Paramount Global (NASDAQ:PARA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 12,697 shares of the company’s stock, valued at approximately $135,000.

A number of other hedge funds have also modified their holdings of PARA. Blue Trust Inc. boosted its position in shares of Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares during the period. Huntington National Bank boosted its holdings in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the period. Atlas Capital Advisors LLC purchased a new position in shares of Paramount Global in the second quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paramount Global during the second quarter valued at approximately $43,000. Finally, Kennebec Savings Bank purchased a new stake in shares of Paramount Global in the 3rd quarter valued at approximately $47,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on PARA shares. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Guggenheim reduced their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $10.00 to $11.00 in a report on Friday, August 9th. Eight investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and an average price target of $12.40.

Paramount Global Stock Down 1.9 %

PARA stock opened at $10.88 on Friday. The firm has a market cap of $7.26 billion, a PE ratio of -1.32, a PEG ratio of 1.34 and a beta of 1.74. The company has a fifty day simple moving average of $10.66 and a 200 day simple moving average of $10.99. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same quarter last year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently announced 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 1.84%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is -2.43%.

Paramount Global 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.