Paramount Global (NASDAQ:PARAA) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Paramount Global (NASDAQ:PARAA - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 275,630 shares of the company's stock after purchasing an additional 28,615 shares during the period. Geode Capital Management LLC's holdings in Paramount Global were worth $6,147,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Guardian Investment Management purchased a new stake in shares of Paramount Global during the fourth quarter worth about $963,000. Bank of New York Mellon Corp increased its position in shares of Paramount Global by 450.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company's stock valued at $2,784,000 after buying an additional 102,165 shares in the last quarter. Finally, State Street Corp lifted its stake in Paramount Global by 20.2% in 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 in the last quarter. 5.98% of the stock is currently owned by institutional investors.

Paramount Global Price Performance

Shares of NASDAQ:PARAA traded up $0.12 during midday trading on Tuesday, hitting $22.72. The company's stock had a trading volume of 10,284 shares, compared to its average volume of 50,715. Paramount Global has a 12-month low of $16.59 and a 12-month high of $26.34. The company has a market cap of $15.15 billion, a P/E ratio of -2.76 and a beta of 1.33. The business's 50 day simple moving average is $22.63 and its 200 day simple moving average is $22.52. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARAA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $8.07 billion. On average, analysts forecast that Paramount Global will post 2.25 EPS for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.88%. Paramount Global's payout ratio is -2.15%.

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.