National Bank of Canada FI Purchases 142,267 Shares of Paramount Global (NASDAQ:PARA)

National Bank of Canada FI boosted its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 401.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 177,677 shares of the company's stock after acquiring an additional 142,267 shares during the period. National Bank of Canada FI's holdings in Paramount Global were worth $1,859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. Insight Inv LLC lifted its holdings in shares of Paramount Global by 9.8% in the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company's stock worth $215,000 after acquiring an additional 1,825 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Paramount Global by 9.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 21,146 shares of the company's stock valued at $225,000 after purchasing an additional 1,845 shares in the last quarter. Mitchell & Pahl Private Wealth LLC grew its holdings in shares of Paramount Global by 3.8% during the 4th quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company's stock valued at $531,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Perigon Wealth Management LLC increased its position in Paramount Global by 7.0% during the 4th quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company's stock worth $293,000 after purchasing an additional 1,874 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PARA shares. Guggenheim reiterated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley lifted their price target on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research note on Wednesday, April 2nd. StockNews.com began coverage on shares of Paramount Global in a report on Monday, April 7th. They issued a "hold" rating for the company. Finally, Benchmark reissued a "buy" rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $12.09.

Paramount Global Trading Up 0.2 %

PARA stock traded up $0.03 during mid-day trading on Monday, reaching $10.72. The company's stock had a trading volume of 778,638 shares, compared to its average volume of 11,585,148. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The business's 50 day moving average price is $11.36 and its 200 day moving average price is $10.95. The company has a market cap of $7.15 billion, a price-to-earnings ratio of -1.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31.

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 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 the consensus estimate 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, equities research analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders 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 dividend yield of 1.87%. Paramount Global's dividend payout ratio (DPR) is presently -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.