MidWestOne Financial Group Inc. Has $138,000 Holdings in Paramount Global (NASDAQ:PARA)

MidWestOne Financial Group Inc. lowered its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 90.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,032 shares of the company's stock after selling 117,832 shares during the period. MidWestOne Financial Group Inc.'s holdings in Paramount Global were worth $138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp grew its holdings in shares of Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company's stock worth $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Lingotto Investment Management LLP increased its position in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company's stock worth $311,046,000 after purchasing an additional 25,829,185 shares in the last quarter. Ariel Investments LLC raised its stake in shares of Paramount Global by 16.5% in the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company's stock valued at $145,899,000 after acquiring an additional 1,992,576 shares during the period. Charles Schwab Investment Management Inc. raised its position in Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock valued at $78,533,000 after purchasing an additional 1,030,592 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Paramount Global by 6.4% during the second quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company's stock worth $38,698,000 after purchasing an additional 225,191 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PARA shares. Macquarie reissued an "underperform" rating and set a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a "sell" rating to a "hold" rating in a report on Monday, November 11th. Guggenheim lowered their target price on shares of Paramount Global from $19.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a research note on Thursday, August 15th. Seven analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.43.

Paramount Global Stock Down 0.1 %

Paramount Global stock traded down $0.01 during mid-day trading on Wednesday, hitting $11.19. The company's stock had a trading volume of 9,912,905 shares, compared to its average volume of 14,663,858. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 52-week low of $9.54 and a 52-week high of $16.83. The firm's 50 day moving average is $10.77 and its 200 day moving average is $10.86. The company has a market cap of $7.46 billion, a PE ratio of -1.36, a price-to-earnings-growth ratio of 1.33 and a beta of 1.71.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period last year, the company earned $0.30 earnings per share. Paramount Global's quarterly revenue was down 5.6% compared to the same quarter last year. On average, analysts anticipate that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.79%. Paramount Global's dividend payout ratio is currently -2.43%.

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.