Wells Fargo & Company MN reduced its position in Paramount Global (NASDAQ:PARA - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,930,968 shares of the company's stock after selling 74,756 shares during the period. Wells Fargo & Company MN owned approximately 0.89% of Paramount Global worth $62,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of the company. Allworth Financial LP raised its position 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 valued at $25,000 after purchasing an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global during the 4th quarter valued at about $31,000. Rakuten Securities Inc. grew 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 valued at $32,000 after purchasing an additional 2,019 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Paramount Global in the fourth quarter worth about $35,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Paramount Global in the fourth quarter worth about $57,000. Institutional investors own 73.00% of the company's stock.
Paramount Global Stock Performance
PARA stock traded up $0.04 during trading on Monday, reaching $10.73. The company had a trading volume of 1,134,173 shares, compared to its average volume of 11,586,215. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The firm has a 50-day simple moving average of $11.36 and a 200-day simple moving average of $10.95. 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 company has a market cap of $7.16 billion, a price-to-earnings ratio of -1.31, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31.
Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results 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). 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, sell-side analysts expect that Paramount Global will post 1.77 earnings per share for the current year.
Paramount Global Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio is presently -2.15%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on PARA. Morgan Stanley upped their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Tuesday, February 4th. StockNews.com initiated coverage on shares of Paramount Global in a research note on Monday, April 7th. They issued a "hold" rating for the company. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. 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. Finally, Guggenheim reiterated a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Paramount Global currently has a consensus rating of "Hold" and a consensus price target of $12.09.
Read Our Latest Stock Report on Paramount Global
Paramount Global Company Profile
(
Free Report)
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.
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