Daiwa Securities Group Inc. decreased its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 55.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,951 shares of the company's stock after selling 39,923 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Paramount Global were worth $334,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Paramount Global by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock valued at $80,993,000 after purchasing an additional 348,298 shares during the period. Bridgewater Associates LP grew its holdings in Paramount Global by 50.7% during the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock valued at $3,484,000 after purchasing an additional 110,357 shares during the period. Franklin Resources Inc. grew its holdings in Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock valued at $2,029,000 after purchasing an additional 174,514 shares during the period. Wilsey Asset Management Inc. lifted its stake in Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock valued at $19,898,000 after buying an additional 265,408 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Paramount Global by 24.7% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.
Paramount Global Stock Up 1.6 %
Shares of PARA stock traded up $0.19 during trading on Thursday, reaching $11.93. The company's stock had a trading volume of 6,883,891 shares, compared to its average volume of 12,488,484. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average price of $11.10 and a 200-day moving average price of $10.82. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a market cap of $7.96 billion, a price-to-earnings ratio of -1.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.
Paramount Global Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on PARA shares. Benchmark reaffirmed a "buy" rating and issued a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reaffirmed a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Morgan Stanley lifted their price target 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. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $12.10.
Read Our Latest Stock Report on PARA
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.
See Also
Before you consider Paramount Global, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paramount Global wasn't on the list.
While Paramount Global currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
