Paramount Global (NASDAQ:PARA) Shares Sold by Athos Capital Ltd

Athos Capital Ltd lessened its position in Paramount Global (NASDAQ:PARA - Free Report) by 39.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 66,300 shares of the company's stock after selling 43,900 shares during the period. Paramount Global makes up 0.3% of Athos Capital Ltd's investment portfolio, making the stock its 19th largest holding. Athos Capital Ltd's holdings in Paramount Global were worth $693,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Paramount Global by 4.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock worth $80,993,000 after acquiring an additional 348,298 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Paramount Global by 824.1% in the 3rd 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 in the last quarter. Wilsey Asset Management Inc. lifted 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 valued at $19,898,000 after purchasing an additional 265,408 shares during the period. Bank of New York Mellon Corp grew its position in Paramount Global by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock worth $47,973,000 after buying an additional 908,515 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Paramount Global by 22.3% in the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company's stock valued at $7,258,000 after buying an additional 124,740 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Paramount Global Trading Up 1.0 %

Shares of PARA traded up $0.11 during mid-day trading on Wednesday, reaching $10.76. The company had a trading volume of 3,087,437 shares, compared to its average volume of 11,812,666. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of -1.31, 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. The firm has a fifty day simple moving average of $11.36 and a 200-day simple moving average of $10.94. 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 results on Wednesday, February 26th. The company reported ($0.11) 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 positive return on equity of 5.81% and a negative net margin of 18.89%. On average, sell-side analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is currently -2.15%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a report on Wednesday, April 2nd. Guggenheim restated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, StockNews.com began coverage on shares of Paramount Global in a research report on Monday. They issued a "hold" rating on the stock. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Paramount Global has a consensus rating of "Hold" and an average price target of $12.09.

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.