Kovack Advisors Inc. Has $185,000 Holdings in Paramount Global (NASDAQ:PARA)

Kovack Advisors Inc. trimmed its position in shares of Paramount Global (NASDAQ:PARA) by 8.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,405 shares of the company’s stock after selling 1,677 shares during the period. Kovack Advisors Inc.’s holdings in Paramount Global were worth $185,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PARA. Vanguard Group Inc. lifted its position in shares of Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock worth $730,805,000 after buying an additional 3,803,928 shares during the last quarter. Lingotto Investment Management LLP lifted its holdings in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after acquiring an additional 25,829,185 shares during the last quarter. Ariel Investments LLC boosted its stake in shares of Paramount Global by 16.5% in the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after purchasing an additional 1,992,576 shares in the last quarter. Kodai Capital Management LP grew its holdings in shares of Paramount Global by 9.2% during the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company’s stock valued at $73,732,000 after purchasing an additional 527,897 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Paramount Global by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock worth $38,698,000 after purchasing an additional 225,191 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PARA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Guggenheim lowered their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced 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. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Paramount Global has an average rating of “Hold” and a consensus target price of $12.40.

Paramount Global Stock Down 4.5 %

Shares of NASDAQ:PARA opened at $10.84 on Friday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. 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’s 50-day moving average is $10.61 and its 200-day moving average is $11.08. The company has a market capitalization of $7.23 billion, a price-to-earnings ratio of -1.32, a P/E/G ratio of 1.37 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities research analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is currently -2.43%.

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.