Greatmark Investment Partners Inc. lifted its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 68.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 127,410 shares of the company's stock after purchasing an additional 51,656 shares during the quarter. Greatmark Investment Partners Inc.'s holdings in Paramount Global were worth $1,333,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock worth $80,993,000 after acquiring an additional 348,298 shares during the period. Bridgewater Associates LP boosted its holdings in Paramount Global by 50.7% in the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock worth $3,484,000 after acquiring an additional 110,357 shares during the period. Franklin Resources Inc. boosted its holdings in Paramount Global by 824.1% in the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after acquiring an additional 174,514 shares during the period. Wilsey Asset Management Inc. boosted its holdings in Paramount Global by 16.2% in the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock worth $19,898,000 after acquiring an additional 265,408 shares during the period. 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. Hedge funds and other institutional investors own 73.00% of the company's stock.
Analyst Ratings Changes
PARA has been the subject of several research analyst reports. Guggenheim reiterated a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley increased their target price on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Finally, 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. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.10.
View Our Latest Analysis on Paramount Global
Paramount Global Stock Performance
NASDAQ PARA traded up $0.03 during trading hours on Monday, hitting $11.67. The company had a trading volume of 2,729,832 shares, compared to its average volume of 9,273,751. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The business has a fifty day simple moving average of $11.05 and a 200-day simple moving average of $10.80. The firm has a market cap of $7.78 billion, a P/E ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60.
Paramount Global (NASDAQ:PARA - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Equities analysts predict that Paramount Global will post 1.77 EPS for the current year.
Paramount Global Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is -2.15%.
Paramount Global Profile
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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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