Lindbrook Capital LLC Has $64,000 Stock Position in Paramount Global (NASDAQ:PARA)

Lindbrook Capital LLC lifted its stake in Paramount Global (NASDAQ:PARA) by 102.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,308 shares of the company’s stock after acquiring an additional 2,176 shares during the quarter. Lindbrook Capital LLC’s holdings in Paramount Global were worth $64,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. abrdn plc increased its position in Paramount Global by 20.2% during the fourth quarter. abrdn plc now owns 889,923 shares of the company’s stock worth $13,162,000 after buying an additional 149,672 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Paramount Global during the fourth quarter worth approximately $67,000. Institute for Wealth Management LLC. increased its position in Paramount Global by 42.7% during the fourth quarter. Institute for Wealth Management LLC. now owns 44,930 shares of the company’s stock worth $665,000 after buying an additional 13,438 shares during the last quarter. Archer Investment Corp acquired a new position in Paramount Global during the fourth quarter worth approximately $30,000. Finally, Cullen Investment Group LTD. acquired a new position in Paramount Global during the fourth quarter worth approximately $1,188,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Paramount Global in a report on Tuesday, April 9th. Redburn Atlantic cut Paramount Global from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft reduced their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Finally, Raymond James restated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Paramount Global presently has an average rating of “Hold” and an average price target of $13.79.

Paramount Global Stock Down 3.9 %

NASDAQ PARA opened at $12.18 on Friday. The business has a fifty day moving average price of $11.49 and a two-hundred day moving average price of $12.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $24.00. The stock has a market capitalization of $7.95 billion, a PE ratio of -11.94, a PEG ratio of 0.45 and a beta of 1.77.

Paramount Global (NASDAQ:PARA) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.09. The firm had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. Equities analysts expect that Paramount Global will post 1.2 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend yield of 1.64%. 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.