Greatmark Investment Partners Inc. Has $1.33 Million Stock Position in Paramount Global (NASDAQ:PARA)

Greatmark Investment Partners Inc. grew its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 68.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,410 shares of the company's stock after acquiring an additional 51,656 shares during the quarter. Greatmark Investment Partners Inc.'s holdings in Paramount Global were worth $1,333,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp increased its position in Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company's stock worth $470,695,000 after purchasing an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC grew its position in 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 acquiring an additional 1,606,779 shares in the last quarter. Lingotto Investment Management LLP grew its position in Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after acquiring an additional 1,593,579 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Paramount Global by 16.2% during the 3rd 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock valued at $47,973,000 after buying an additional 908,515 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

Remove Ads

Paramount Global Stock Up 0.7 %

Shares of PARA stock traded up $0.08 during trading on Wednesday, hitting $11.74. 4,715,700 shares of the company were exchanged, compared to its average volume of 12,504,379. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.60. The business's 50-day simple moving average is $11.08 and its 200 day simple moving average is $10.81. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted 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). The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

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 1.70%. The ex-dividend date is Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PARA. Benchmark reiterated a "buy" rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley lifted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $12.10.

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.