Raymond James Financial Inc. Purchases New Shares in Paramount Global (NASDAQ:PARA)

Raymond James Financial Inc. purchased a new position in shares of Paramount Global (NASDAQ:PARA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 521,748 shares of the company's stock, valued at approximately $5,457,000. Raymond James Financial Inc. owned approximately 0.08% of Paramount Global as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock worth $701,242,000 after purchasing an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP increased its stake in shares of Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after buying an additional 1,593,579 shares during the period. Invesco Ltd. boosted its position in Paramount Global by 5.7% during the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock worth $215,413,000 after buying an additional 1,119,314 shares during the period. Geode Capital Management LLC grew its holdings in Paramount Global by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company's stock worth $162,731,000 after acquiring an additional 724,565 shares during the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new position in Paramount Global in the 4th quarter valued at approximately $146,230,000. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Stock Down 0.3 %

Paramount Global stock traded down $0.04 during midday trading on Monday, reaching $11.69. The stock had a trading volume of 5,973,153 shares, compared to its average volume of 11,205,936. The company has a fifty day moving average price of $11.39 and a two-hundred day moving average price of $10.99. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. 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 company has a market capitalization of $7.80 billion, a P/E ratio of -1.42, a PEG ratio of 1.68 and a beta of 1.31.

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 firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, equities analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is -2.15%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Benchmark reissued a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a research note 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 for the company. in a research report on Wednesday, April 2nd. UBS Group reduced their target price on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, StockNews.com assumed coverage on shares of Paramount Global in a research note on Wednesday, April 23rd. They issued a "hold" rating on the stock. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global currently has an average rating of "Hold" and a consensus price target of $11.92.

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.