Amundi lifted its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,655,784 shares of the company's stock after buying an additional 152,026 shares during the quarter. Amundi owned approximately 0.25% of Paramount Global worth $17,618,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its position in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after acquiring an additional 1,395 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Paramount Global by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company's stock worth $977,000 after purchasing an additional 1,481 shares during the period. Huntington National Bank grew its position in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company's stock valued at $29,000 after buying an additional 1,561 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in Paramount Global by 10.4% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company's stock valued at $187,000 after buying an additional 1,663 shares in the last quarter. Finally, Insight Inv LLC increased its stake in Paramount Global by 9.8% during the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company's stock valued at $215,000 after buying an additional 1,825 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.
Paramount Global Stock Up 0.4 %
NASDAQ:PARA traded up $0.05 on Friday, hitting $11.69. 7,306,948 shares of the company's stock traded hands, compared to its average volume of 9,412,048. The company has a market cap of $7.80 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $11.03 and a 200-day moving average price of $10.79.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion during the quarter, compared to analysts' expectations of $8.07 billion. Equities analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.
Paramount Global Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on PARA. Morgan Stanley increased their price target on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Guggenheim reaffirmed a "buy" rating and set a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Benchmark restated a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $12.10.
View Our Latest Stock Report on Paramount Global
About Paramount Global
(
Free Report)
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.
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