Kingswood Wealth Advisors LLC Makes New Investment in Paramount Global (NASDAQ:PARA)

Kingswood Wealth Advisors LLC acquired a new position in shares of Paramount Global (NASDAQ:PARA) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 20,433 shares of the company’s stock, valued at approximately $325,000.

Other institutional investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC increased its holdings in Paramount Global by 130.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the company’s stock worth $27,000 after purchasing an additional 685 shares during the period. ICA Group Wealth Management LLC purchased a new position in Paramount Global during the 4th quarter worth $32,000. Pacific Center for Financial Services purchased a new position in Paramount Global during the 1st quarter worth $35,000. Horrell Capital Management Inc. increased its holdings in Paramount Global by 61.3% during the 1st quarter. Horrell Capital Management Inc. now owns 1,613 shares of the company’s stock worth $36,000 after purchasing an additional 613 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in Paramount Global during the 1st quarter worth $36,000. 72.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PARA has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Paramount Global from $25.00 to $24.00 in a report on Tuesday, August 8th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Citigroup cut their price target on Paramount Global from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, August 15th. Bank of America downgraded Paramount Global from a “buy” rating to an “underperform” rating and set a $9.00 price target on the stock. in a report on Monday, November 6th. Finally, Guggenheim cut their price target on Paramount Global from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Monday, October 2nd. Nine analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.72.

Paramount Global Stock Performance

Shares of PARA stock opened at $12.52 on Wednesday. The stock has a market cap of $8.16 billion, a PE ratio of -7.03, a price-to-earnings-growth ratio of 3.10 and a beta of 1.76. The business has a 50-day simple moving average of $12.36 and a 200-day simple moving average of $14.60. The company has a quick ratio of 1.09, a current ratio of 1.26 and a debt-to-equity ratio of 0.70. Paramount Global has a 52-week low of $10.51 and a 52-week high of $25.93.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.60%. Paramount Global’s dividend payout ratio (DPR) is presently -11.24%.

Paramount Global Profile

Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.