Invesco Ltd. increased its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 5.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,593,954 shares of the company's stock after buying an additional 1,119,314 shares during the quarter. Invesco Ltd. owned about 3.09% of Paramount Global worth $215,413,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of 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 period. Mountain Hill Investment Partners Corp. acquired a new stake in Paramount Global during the 4th quarter worth about $31,000. Rakuten Securities Inc. lifted its stake in Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock valued at $32,000 after buying an additional 2,019 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Paramount Global in the fourth quarter worth about $35,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Paramount Global in the fourth quarter worth approximately $36,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have weighed in on PARA. StockNews.com started coverage on shares of Paramount Global in a research report on Tuesday. They set a "hold" rating on the stock. Benchmark reissued a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley lifted their target price 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 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 report on Wednesday, April 2nd. Finally, UBS Group dropped their price objective on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Paramount Global presently has a consensus rating of "Hold" and a consensus price target of $11.92.
Read Our Latest Analysis on PARA
Paramount Global Stock Performance
Shares of NASDAQ PARA traded down $0.15 during trading hours on Wednesday, hitting $10.71. 6,794,573 shares of the stock were exchanged, compared to its average volume of 11,546,664. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company's 50 day moving average is $11.36 and its 200 day moving average is $10.95. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The firm has a market capitalization of $7.14 billion, a P/E ratio of -1.30, a P/E/G ratio of 1.68 and a beta of 1.31.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its earnings results 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, research analysts expect that Paramount Global will post 1.77 EPS for the current year.
Paramount Global Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.87%. 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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