Proficio Capital Partners LLC Buys Shares of 16,956 Paramount Global (NASDAQ:PARA)

Proficio Capital Partners LLC purchased a new stake in Paramount Global (NASDAQ:PARA) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 16,956 shares of the company’s stock, valued at approximately $177,000.

Several other large investors have also added to or reduced their stakes in the business. Lingotto Investment Management LLP lifted its stake in Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after acquiring an additional 1,593,579 shares during the last quarter. State Street Corp raised its position in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the period. Geode Capital Management LLC raised its position in shares of Paramount Global by 12.1% in the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after purchasing an additional 1,606,779 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after purchasing an additional 1,030,592 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Paramount Global by 24.7% in the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after purchasing an additional 908,515 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Price Performance

PARA stock opened at $11.58 on Thursday. The company’s 50-day moving average price is $11.01 and its two-hundred day moving average price is $10.79. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.72 billion, a P/E ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share 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 company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. On average, analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business 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. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.73%. Paramount Global’s payout ratio is currently -2.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PARA shares. 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. Guggenheim reaffirmed a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their price target 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.10.

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.