Paramount Global (NASDAQ:PARA) Holdings Lifted by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. boosted its holdings in Paramount Global (NASDAQ:PARA) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,411 shares of the company’s stock after acquiring an additional 1,356 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Paramount Global were worth $181,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PARA. Newbridge Financial Services Group Inc. bought a new stake in shares of Paramount Global during the 4th quarter worth $44,000. Atlas Capital Advisors LLC purchased a new position in Paramount Global in the 2nd quarter worth about $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global in the 2nd quarter worth about $43,000. SageView Advisory Group LLC acquired a new stake in Paramount Global during the 1st quarter worth about $56,000. Finally, GAMMA Investing LLC lifted its stake in Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after buying an additional 1,067 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Price Performance

NASDAQ PARA opened at $10.34 on Friday. The firm has a market cap of $6.89 billion, a P/E ratio of -68.93, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The stock’s 50-day moving average is $10.55 and its two-hundred day moving average is $11.25. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. On average, analysts anticipate that Paramount Global will post 1.56 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.93%. Paramount Global’s payout ratio is presently -133.32%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Paramount Global in a report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price target on the stock. Wolfe Research lowered Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a report on Tuesday, July 9th. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Finally, Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.33.

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.