Bank of New York Mellon Corp Increases Position in Paramount Global (NASDAQ:PARAA)

Bank of New York Mellon Corp raised its holdings in shares of Paramount Global (NASDAQ:PARAA - Free Report) by 450.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 124,832 shares of the company's stock after purchasing an additional 102,165 shares during the period. Bank of New York Mellon Corp's holdings in Paramount Global were worth $2,784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Guardian Investment Management purchased a new position in shares of Paramount Global during the fourth quarter valued at approximately $963,000. Geode Capital Management LLC raised its stake in Paramount Global by 16.7% during the 3rd quarter. Geode Capital Management LLC now owns 247,015 shares of the company's stock valued at $5,400,000 after buying an additional 35,305 shares during the last quarter. State Street Corp lifted its holdings in shares of Paramount Global by 20.2% during the 3rd quarter. State Street Corp now owns 49,366 shares of the company's stock valued at $1,082,000 after buying an additional 8,287 shares during the period. Atom Investors LP purchased a new position in shares of Paramount Global in the 3rd quarter worth $244,000. Finally, Slotnik Capital LLC bought a new stake in shares of Paramount Global in the third quarter worth $1,401,000. Institutional investors own 5.98% of the company's stock.

Paramount Global Stock Performance

Paramount Global stock traded down $0.04 during mid-day trading on Monday, reaching $22.66. 13,111 shares of the stock traded hands, compared to its average volume of 53,605. The stock has a market capitalization of $15.11 billion, a PE ratio of -2.76 and a beta of 1.57. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business's 50-day moving average is $22.66 and its 200-day moving average is $22.39. Paramount Global has a 12-month low of $16.59 and a 12-month high of $26.34.

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Paramount Global (NASDAQ:PARAA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.27). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, sell-side analysts predict that Paramount Global will post 2.25 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.88%. Paramount Global's dividend payout ratio (DPR) is -2.15%.

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.