Grantham Mayo Van Otterloo & Co. LLC lowered its stake in Paramount Global (NASDAQ:PARA - Free Report) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,645,467 shares of the company's stock after selling 40,455 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.25% of Paramount Global worth $17,212,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PARA. Allworth Financial LP increased its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after purchasing an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Paramount Global in the 4th quarter valued at about $31,000. Rakuten Securities Inc. raised its stake in Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after buying an additional 2,019 shares during the period. Atlas Capital Advisors Inc. bought a new position in Paramount Global in the fourth quarter worth approximately $35,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in Paramount Global in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 73.00% of the company's stock.
Paramount Global Stock Performance
Shares of PARA traded down $0.14 on Friday, reaching $10.79. 1,458,928 shares of the company's stock traded hands, compared to its average volume of 11,687,311. The stock's 50 day simple moving average is $11.37 and its two-hundred day simple moving average is $10.95. The stock has a market cap of $7.19 billion, a PE ratio of -1.31, a PEG ratio of 1.68 and a beta of 1.31. Paramount Global has a 52-week low of $9.54 and a 52-week 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.
Paramount Global (NASDAQ:PARA - 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 $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to analysts' expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, analysts forecast that Paramount Global will post 1.77 earnings per share for the current fiscal year.
Paramount Global Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is -2.15%.
Analyst Ratings Changes
A number of brokerages have recently weighed in on PARA. Morgan Stanley upped their target price on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 4th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reiterated a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim restated a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Paramount Global currently has an average rating of "Hold" and a consensus price target of $12.09.
Read Our Latest Report on PARA
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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