Wetzel Investment Advisors Inc. Makes New $67,000 Investment in Paramount Global (NASDAQ:PARA)

Wetzel Investment Advisors Inc. bought a new stake in Paramount Global (NASDAQ:PARA) during the 4th quarter, Holdings Channel reports. The fund bought 4,500 shares of the company’s stock, valued at approximately $67,000.

Several other institutional investors also recently modified their holdings of the business. Captrust Financial Advisors acquired a new position in Paramount Global in the second quarter valued at approximately $767,000. Marshall Wace LLP acquired a new position in shares of Paramount Global in the 3rd quarter valued at $3,099,000. Two Sigma Investments LP bought a new position in shares of Paramount Global in the 3rd quarter worth $4,764,000. Thrivent Financial for Lutherans acquired a new stake in shares of Paramount Global during the third quarter worth $2,288,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Paramount Global in the third quarter valued at about $5,682,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Up 13.4 %

NASDAQ PARA opened at $12.44 on Friday. The firm’s 50 day moving average is $11.52 and its 200-day moving average is $12.86. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Paramount Global has a 12-month low of $10.12 and a 12-month high of $24.00.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same period in the previous year, the business earned $0.08 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Equities research analysts predict that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PARA. Rosenblatt Securities restated a “neutral” rating and set a $13.00 target price on shares of Paramount Global in a report on Tuesday, April 9th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price for the company in a research note on Tuesday, January 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, February 28th. Morgan Stanley lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Tuesday, February 27th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.79.

Paramount Global Company 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.