Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 35.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 574,078 shares of the company's stock after selling 315,331 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Paramount Global worth $6,005,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC bought a new stake in shares of Paramount Global during the third quarter worth approximately $117,000. Daiwa Securities Group Inc. boosted its stake in Paramount Global by 26.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 71,874 shares of the company's stock valued at $763,000 after purchasing an additional 15,053 shares during the period. Fisher Asset Management LLC grew its holdings in Paramount Global by 88.4% in the 3rd quarter. Fisher Asset Management LLC now owns 21,723 shares of the company's stock valued at $231,000 after buying an additional 10,192 shares in the last quarter. Bridgewater Associates LP increased its position in Paramount Global by 50.7% during the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock worth $3,484,000 after buying an additional 110,357 shares during the period. Finally, Glenmede Trust Co. NA acquired a new stake in shares of Paramount Global during the third quarter worth $127,000. Institutional investors and hedge funds own 73.00% of the company's stock.
Paramount Global Price Performance
NASDAQ PARA traded up $0.17 during trading on Wednesday, hitting $11.90. 9,130,162 shares of the company's stock were exchanged, compared to its average volume of 12,472,693. The company has a market cap of $7.94 billion, a PE ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.60. 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 has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The stock's 50 day moving average price is $11.34 and its two-hundred day moving average price is $10.92.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $7.98 billion for 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%. Research analysts expect that Paramount Global will post 1.77 EPS for the current year.
Paramount Global Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. Paramount Global's dividend payout ratio is currently -2.15%.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on PARA shares. Guggenheim restated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reaffirmed a "buy" rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. StockNews.com began coverage on Paramount Global in a research report on Sunday. They set a "hold" rating on the stock. Finally, Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $12.09.
Get Our Latest Stock Report on Paramount Global
Paramount Global Profile
(
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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