Greatmark Investment Partners Inc. Increases Stock Holdings in Paramount Global (NASDAQ:PARA)

Greatmark Investment Partners Inc. raised its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 68.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,410 shares of the company's stock after buying 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 SEC filing.

A number of other large investors have also modified their holdings of PARA. Monaco Asset Management SAM grew its holdings in shares of Paramount Global by 140.7% in the fourth quarter. Monaco Asset Management SAM now owns 975,000 shares of the company's stock valued at $10,198,000 after purchasing an additional 570,000 shares during the period. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Paramount Global in the fourth quarter valued at about $5,543,000. Rakuten Securities Inc. grew its holdings in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock valued at $32,000 after purchasing an additional 2,019 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Paramount Global by 46.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,452 shares of the company's stock valued at $1,626,000 after purchasing an additional 48,948 shares during the period. Finally, AlphaQuest LLC grew its holdings in shares of Paramount Global by 89.4% in the fourth quarter. AlphaQuest LLC now owns 52,456 shares of the company's stock valued at $549,000 after purchasing an additional 24,756 shares during the period. Hedge funds and other institutional investors own 73.00% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reaffirmed a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley increased their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 4th. Finally, Benchmark reaffirmed a "buy" rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. 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.com, Paramount Global currently has an average rating of "Hold" and a consensus target price of $12.10.

Paramount Global Stock Down 0.2 %

Shares of PARA traded down $0.02 during mid-day trading on Tuesday, hitting $11.66. 5,674,452 shares of the company's stock were exchanged, compared to its average volume of 12,535,532. The company has a market cap of $7.78 billion, a price-to-earnings ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. 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 stock's 50-day moving average is $11.08 and its 200-day moving average is $10.81.

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 firm 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%. On average, sell-side analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.72%. Paramount Global's dividend payout ratio (DPR) is -2.15%.

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.