Hoertkorn Richard Charles Raises Stock Holdings in Paramount Global (NASDAQ:PARA)

Hoertkorn Richard Charles raised its position in shares of Paramount Global (NASDAQ:PARA) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 229,066 shares of the company’s stock after purchasing an additional 7,370 shares during the quarter. Paramount Global accounts for about 1.0% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 22nd largest position. Hoertkorn Richard Charles’ holdings in Paramount Global were worth $2,396,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after purchasing an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global in the 4th quarter valued at $31,000. Rakuten Securities Inc. raised its stake in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Paramount Global in the fourth quarter valued at approximately $57,000. Finally, FNY Investment Advisers LLC lifted its position in Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after purchasing an additional 3,654 shares during the period. 73.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on PARA shares. Guggenheim reiterated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. StockNews.com assumed coverage on Paramount Global in a research report on Saturday, March 22nd. They set a “hold” rating for the company. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global presently has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Trading Down 1.5 %

NASDAQ PARA opened at $11.68 on Friday. Paramount Global has a one year low of $9.54 and a one year high of $14.54. 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 business has a 50 day simple moving average of $11.25 and a 200 day simple moving average of $10.87. The stock has a market capitalization of $7.79 billion, a P/E ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60.

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

Paramount Global Announces Dividend

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

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.