Scotia Capital Inc. Has $3.72 Million Stock Position in Paramount Global (NASDAQ:PARA)

Scotia Capital Inc. lowered its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 34.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 355,548 shares of the company's stock after selling 190,110 shares during the quarter. Scotia Capital Inc. owned 0.05% of Paramount Global worth $3,719,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP raised its stake in shares of Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after buying an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. purchased a new position in Paramount Global in the fourth quarter worth $31,000. Rakuten Securities Inc. boosted its position in shares of Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after purchasing an additional 2,019 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Paramount Global during the 4th quarter worth $35,000. Finally, Resona Asset Management Co. Ltd. acquired a new stake in shares of Paramount Global in the fourth quarter valued at about $36,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research reports. StockNews.com started coverage on Paramount Global in a report on Tuesday. They issued a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a research report on Wednesday, April 2nd. Benchmark restated a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. UBS Group dropped their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday. Finally, Morgan Stanley raised their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 4th. Seven analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $11.92.

Paramount Global Stock Up 1.5 %

NASDAQ:PARA traded up $0.16 during trading hours on Thursday, hitting $10.87. 3,053,601 shares of the company's stock traded hands, compared to its average volume of 11,500,265. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The firm has a market cap of $7.25 billion, a P/E ratio of -1.32, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock's fifty day moving average price is $11.36 and its two-hundred day moving average price is $10.95.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS 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 company had revenue of $7.98 billion for the quarter, compared to analysts' expectations of $8.07 billion. On average, research analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is presently -2.15%.

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.