Mount Yale Investment Advisors LLC Invests $4.52 Million in Paramount Global (NASDAQ:PARA)

Mount Yale Investment Advisors LLC purchased a new stake in Paramount Global (NASDAQ:PARA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 425,822 shares of the company’s stock, valued at approximately $4,522,000. Mount Yale Investment Advisors LLC owned about 0.06% of Paramount Global at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after buying an additional 1,573 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in shares of Paramount Global in the second quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paramount Global during the second quarter worth approximately $43,000. SageView Advisory Group LLC acquired a new stake in shares of Paramount Global during the first quarter worth $56,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock worth $52,000 after acquiring an additional 4,100 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PARA shares. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Evercore ISI dropped their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Friday, August 9th. StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Nine research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.33.

Paramount Global Stock Down 0.1 %

Shares of NASDAQ:PARA opened at $10.30 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $6.87 billion, a P/E ratio of -1.32, a P/E/G ratio of 0.56 and a beta of 1.75. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The stock’s fifty day simple moving average is $10.53 and its 200-day simple moving average is $11.14.

Paramount Global (NASDAQ:PARA) last released its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. As a group, equities research analysts forecast that Paramount Global will post 1.58 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.94%. Paramount Global’s dividend payout ratio (DPR) is presently -2.57%.

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.