Vestcor Inc decreased its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 76.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 33,418 shares of the company's stock after selling 111,307 shares during the period. Vestcor Inc's holdings in Paramount Global were worth $350,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of PARA. Lingotto Investment Management LLP lifted its stake in shares of Paramount Global by 3.7% during the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock worth $468,120,000 after purchasing an additional 1,593,579 shares during the period. State Street Corp increased its stake in Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company's stock valued at $470,695,000 after purchasing an additional 6,848,037 shares during the last quarter. Geode Capital Management LLC lifted its position in Paramount Global by 12.1% during the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock worth $157,168,000 after buying an additional 1,606,779 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock worth $80,993,000 after buying an additional 348,298 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Paramount Global by 24.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock valued at $47,973,000 after buying an additional 908,515 shares during the period. Institutional investors and hedge funds own 73.00% of the company's stock.
Paramount Global Stock Down 0.6 %
Shares of PARA traded down $0.07 during midday trading on Friday, hitting $11.86. The company had a trading volume of 14,225,281 shares, compared to its average volume of 12,383,427. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of -1.44, a PEG ratio of 1.68 and a beta of 1.60. The company's 50 day moving average price is $11.13 and its 200 day moving average price is $10.83. 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 has a 52 week low of $9.54 and a 52 week high of $14.54.
Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm 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%. On average, equities research analysts predict that Paramount Global will post 1.77 EPS for the current year.
Paramount Global Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global's dividend payout ratio is presently -2.15%.
Analysts Set New Price Targets
PARA has been the topic of several research analyst reports. Benchmark reissued a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a research 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. Morgan Stanley raised their target price on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Finally, Guggenheim reaffirmed a "buy" rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Six investment 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, Paramount Global has an average rating of "Hold" and an average price target of $12.10.
View Our Latest Research Report on PARA
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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