Raymond James Financial Inc. Takes Position in Paramount Global (NASDAQ:PARA)

Raymond James Financial Inc. purchased a new stake in Paramount Global (NASDAQ:PARA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company's stock valued at $470,695,000 after acquiring an additional 6,848,037 shares during the last quarter. Geode Capital Management LLC increased its position in Paramount Global by 12.1% during the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock worth $157,168,000 after acquiring an additional 1,606,779 shares during the period. Lingotto Investment Management LLP boosted 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. Charles Schwab Investment Management Inc. increased its position in shares of Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the period. Finally, Bank of New York Mellon Corp raised 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 valued at $47,973,000 after purchasing an additional 908,515 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

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Paramount Global Stock Performance

PARA stock traded down $0.03 during trading on Tuesday, hitting $11.61. 5,114,630 shares of the company's stock traded hands, compared to its average volume of 12,299,808. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock has a fifty day moving average price of $11.18 and a two-hundred day moving average price of $10.85. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.72%. The ex-dividend date is Monday, March 17th. Paramount Global's dividend payout ratio is -2.15%.

Wall Street Analyst Weigh In

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

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.