Institute for Wealth Management LLC. Purchases 13,438 Shares of Paramount Global (NASDAQ:PARA)

Institute for Wealth Management LLC. boosted its position in shares of Paramount Global (NASDAQ:PARA) by 42.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,930 shares of the company’s stock after acquiring an additional 13,438 shares during the period. Institute for Wealth Management LLC.’s holdings in Paramount Global were worth $665,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highlander Capital Management LLC increased its stake in Paramount Global by 13.4% during the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after acquiring an additional 850 shares during the period. Arizona State Retirement System increased its stake in Paramount Global by 0.7% during the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after acquiring an additional 887 shares during the period. Van ECK Associates Corp increased its stake in Paramount Global by 2.1% during the third quarter. Van ECK Associates Corp now owns 49,536 shares of the company’s stock valued at $639,000 after acquiring an additional 996 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Paramount Global by 4.6% during the first quarter. Thrivent Financial for Lutherans now owns 22,626 shares of the company’s stock valued at $505,000 after purchasing an additional 997 shares in the last quarter. Finally, Forum Financial Management LP boosted its holdings in Paramount Global by 6.8% during the third quarter. Forum Financial Management LP now owns 15,610 shares of the company’s stock valued at $201,000 after purchasing an additional 1,000 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PARA. Morgan Stanley decreased their price objective on Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, February 28th. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $13.00 price objective on shares of Paramount Global in a report on Tuesday, April 9th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Paramount Global currently has an average rating of “Hold” and a consensus price target of $13.79.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $12.44 on Friday. The firm has a fifty day moving average of $11.52 and a two-hundred day moving average of $12.85. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of -12.20, a PEG ratio of 0.39 and a beta of 1.77. Paramount Global has a 52 week low of $10.12 and a 52 week high of $24.00. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same quarter in the prior year, the company earned $0.08 EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, equities research analysts predict that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

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.