Paramount Global (NASDAQ:PARA) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC lowered its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,580,430 shares of the company's stock after selling 674,408 shares during the period. Neuberger Berman Group LLC owned about 0.39% of Paramount Global worth $26,991,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake 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 last quarter. 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 last quarter. Wilsey Asset Management Inc. increased its stake in shares of Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock worth $19,898,000 after purchasing an additional 265,408 shares during the period. Bank of New York Mellon Corp raised its stake in Paramount Global by 24.7% during 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 purchasing an additional 908,515 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Paramount Global during the fourth quarter valued at approximately $5,457,000. Institutional investors and hedge funds own 73.00% of the company's stock.

Paramount Global Stock Down 1.5 %

NASDAQ:PARA traded down $0.16 during midday trading on Wednesday, hitting $10.70. 2,026,149 shares of the company were exchanged, compared to its average volume of 9,239,660. The company has a fifty day simple moving average of $11.36 and a 200 day simple moving average of $10.95. The company has a market capitalization of $7.14 billion, a PE ratio of -1.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a fifty-two week low of $9.54 and a fifty-two 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 for the quarter, missing analysts' consensus estimates 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 business had revenue of $7.98 billion during the quarter, compared to analysts' expectations of $8.07 billion. As a group, equities analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.87%. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Benchmark reissued a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a research note on Wednesday, April 2nd. StockNews.com began coverage on shares of Paramount Global in a research report on Tuesday. They issued a "hold" rating for the company. Morgan Stanley raised their target price on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Finally, UBS Group reduced their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday. Seven analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Paramount Global has an average rating of "Hold" and a consensus target price of $11.92.

About Paramount Global

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.