Empowered Funds LLC Has $609,000 Stock Holdings in Paramount Global (NASDAQ:PARA)

Empowered Funds LLC raised its stake in Paramount Global (NASDAQ:PARA - Free Report) by 442.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,253 shares of the company's stock after acquiring an additional 47,518 shares during the period. Empowered Funds LLC's holdings in Paramount Global were worth $609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company's stock worth $470,695,000 after buying an additional 6,848,037 shares during the period. Geode Capital Management LLC increased its holdings in shares of Paramount Global by 12.1% in the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock valued at $157,168,000 after buying an additional 1,606,779 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock valued at $78,533,000 after buying an additional 1,030,592 shares in the last quarter. Swiss National Bank increased its holdings in shares of Paramount Global by 12.6% in the third quarter. Swiss National Bank now owns 1,765,188 shares of the company's stock valued at $18,746,000 after buying an additional 197,300 shares in the last quarter. Finally, Metropolis Capital Ltd increased its holdings in shares of Paramount Global by 6.1% in the third quarter. Metropolis Capital Ltd now owns 1,123,029 shares of the company's stock valued at $11,927,000 after buying an additional 64,681 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PARA has been the topic of several research reports. StockNews.com raised Paramount Global from a "sell" rating to a "hold" rating in a report on Monday, November 11th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reissued an "underperform" rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Finally, Morgan Stanley boosted their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $12.58.

Paramount Global Stock Up 0.2 %

NASDAQ:PARA traded up $0.02 during trading hours on Friday, reaching $11.49. The company's stock had a trading volume of 10,472,102 shares, compared to its average volume of 9,005,361. The company has a market cap of $7.66 billion, a price-to-earnings ratio of -1.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The business's 50-day moving average is $10.74 and its 200-day moving average is $10.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

About Paramount Global

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.