Financial Counselors Inc. Lowers Stock Position in Paramount Global (NASDAQ:PARA)

Financial Counselors Inc. lowered its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 3.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 841,988 shares of the company's stock after selling 26,056 shares during the period. Financial Counselors Inc. owned about 0.13% of Paramount Global worth $8,807,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Prestige Wealth Management Group LLC lifted its holdings in Paramount Global by 35.9% during the 4th quarter. Prestige Wealth Management Group LLC now owns 12,762 shares of the company's stock worth $134,000 after buying an additional 3,374 shares during the period. Mountain Hill Investment Partners Corp. acquired a new position in shares of Paramount Global in the fourth quarter worth approximately $31,000. Vanguard Group Inc. boosted its holdings in Paramount Global by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock valued at $701,242,000 after acquiring an additional 761,561 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Paramount Global during the 4th quarter valued at approximately $1,265,000. Finally, American Century Companies Inc. increased its position in Paramount Global by 29.2% during the 4th quarter. American Century Companies Inc. now owns 174,995 shares of the company's stock valued at $1,830,000 after purchasing an additional 39,572 shares during the period. Institutional investors and hedge funds own 73.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PARA shares. StockNews.com began coverage on shares of Paramount Global in a research report on Sunday. They issued a "hold" rating on the stock. Benchmark restated a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley increased their price target on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Tuesday, February 4th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Guggenheim reaffirmed a "buy" rating and set a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $12.10.

Remove Ads

Paramount Global Stock Up 3.5 %

PARA traded up $0.40 during trading on Monday, hitting $11.96. 27,065,052 shares of the company's stock were exchanged, compared to its average volume of 12,488,410. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The stock has a market cap of $7.98 billion, a P/E ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.60. The business's 50 day moving average is $11.31 and its two-hundred day moving average is $10.91. 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 posted its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. As a group, equities analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.67%. Paramount Global's dividend payout ratio is presently -2.15%.

Paramount Global 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.