Prudential Financial Inc. Has $3.37 Million Holdings in Paramount Global (NASDAQ:PARA)

Prudential Financial Inc. cut its position in Paramount Global (NASDAQ:PARA - Free Report) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 314,486 shares of the company's stock after selling 36,141 shares during the quarter. Prudential Financial Inc.'s holdings in Paramount Global were worth $3,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after acquiring an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global during the fourth quarter worth about $31,000. Rakuten Securities Inc. lifted its position in shares of Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after purchasing an additional 2,019 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Paramount Global in the fourth quarter worth about $57,000. Finally, FNY Investment Advisers LLC increased its holdings in Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock valued at $75,000 after buying an additional 3,654 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Paramount Global Price Performance

NASDAQ:PARA traded down $0.42 during mid-day trading on Thursday, reaching $11.48. 12,421,311 shares of the stock were exchanged, compared to its average volume of 12,279,450. 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 business has a fifty day moving average price of $11.38 and a 200 day moving average price of $10.93. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The firm has a market capitalization of $7.66 billion, a PE ratio of -1.40, a PEG ratio of 1.68 and a beta of 1.60.

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Paramount Global (NASDAQ:PARA - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.11) EPS 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 the consensus estimate of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. Research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's payout ratio is -2.15%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PARA shares. Guggenheim reiterated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research report on Wednesday. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com assumed coverage on Paramount Global in a report on Sunday. They set a "hold" rating for the company. Finally, Benchmark reissued a "buy" rating and issued a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Paramount Global has an average rating of "Hold" and a consensus price target of $12.09.

Paramount Global Company 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.