Nomura Asset Management Co. Ltd. decreased its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 79.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 43,815 shares of the company's stock after selling 172,830 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Paramount Global were worth $458,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of PARA. Contrarius Group Holdings Ltd bought a new stake in shares of Paramount Global during the fourth quarter worth $146,230,000. State Street Corp boosted its holdings in shares of Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company's stock valued at $470,695,000 after acquiring an additional 6,848,037 shares in the last quarter. Norges Bank bought a new stake in Paramount Global during the 4th quarter worth $45,202,000. New Age Alpha Advisors LLC acquired a new position in Paramount Global in the 4th quarter worth about $20,292,000. Finally, Geode Capital Management LLC raised its position in Paramount Global by 12.1% in the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock valued at $157,168,000 after purchasing an additional 1,606,779 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on PARA shares. Guggenheim restated a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research report on Wednesday, April 2nd. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com began coverage on Paramount Global in a report on Monday. They issued a "hold" rating for the company. Finally, Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $12.09.
Check Out Our Latest Stock Report on Paramount Global
Paramount Global Trading Down 1.9 %
PARA traded down $0.21 during trading on Tuesday, hitting $10.65. The company's stock had a trading volume of 9,414,856 shares, compared to its average volume of 11,846,767. The firm has a market capitalization of $7.10 billion, a P/E ratio of -1.30, a PEG ratio of 1.68 and a beta of 1.31. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The stock's fifty day moving average price is $11.36 and its 200-day moving average price is $10.94. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its earnings results 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 negative net margin of 18.89% and a positive return on equity of 5.81%. Analysts anticipate that Paramount Global will post 1.77 EPS for the current year.
Paramount Global Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is -2.15%.
Paramount Global Company 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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