Wellington Management Group LLP Has $1.96 Million Stock Position in Paramount Global (NASDAQ:PARA)

Wellington Management Group LLP raised its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 83.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,453 shares of the company's stock after buying an additional 85,047 shares during the period. Wellington Management Group LLP's holdings in Paramount Global were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Paramount Global by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock worth $701,242,000 after acquiring an additional 761,561 shares during the last quarter. Lingotto Investment Management LLP increased its holdings 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 purchasing an additional 1,593,579 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock worth $157,168,000 after buying an additional 1,606,779 shares in the last quarter. Contrarius Group Holdings Ltd bought a new position in Paramount Global in the 4th quarter valued at $146,230,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock valued at $80,993,000 after buying an additional 348,298 shares during the period. Institutional investors own 73.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PARA shares. Guggenheim reaffirmed a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reiterated a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. 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. Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research note on Wednesday, April 2nd. Finally, StockNews.com began coverage on shares of Paramount Global in a report on Tuesday. They set a "hold" rating for the company. Seven research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Paramount Global presently has a consensus rating of "Hold" and an average price target of $11.92.

Paramount Global Stock Up 2.1 %

PARA stock traded up $0.23 during trading hours on Friday, reaching $10.94. 6,698,723 shares of the stock were exchanged, compared to its average volume of 11,513,455. The firm's 50-day moving average is $11.38 and its 200-day moving average is $10.95. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -1.33, a PEG ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

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

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.83%. Paramount Global's payout ratio is currently -2.15%.

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.