Paramount Global (NASDAQ:PARA) Shares Sold by Xponance Inc.

Xponance Inc. lessened its stake in Paramount Global (NASDAQ:PARA - Free Report) by 36.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,114 shares of the company's stock after selling 33,050 shares during the period. Xponance Inc.'s holdings in Paramount Global were worth $597,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp increased its position in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company's stock valued at $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC increased its holdings in Paramount Global by 12.1% in the 3rd 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 in the last quarter. Lingotto Investment Management LLP raised its position in Paramount Global by 3.7% during the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock worth $468,120,000 after acquiring an additional 1,593,579 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company's stock valued at $78,533,000 after purchasing an additional 1,030,592 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Paramount Global by 24.7% in 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 during the period. Hedge funds and other institutional investors own 73.00% of the company's stock.

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Paramount Global Price Performance

PARA stock traded down $0.16 on Friday, reaching $11.53. 2,443,567 shares of the company's stock were exchanged, compared to its average volume of 12,407,533. 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 $7.69 billion, a PE ratio of -1.40, a P/E/G ratio of 1.68 and a beta of 1.60. The stock has a fifty day moving average of $11.25 and a 200-day moving average of $10.87. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted 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 analyst estimates of $8.07 billion. As a group, equities analysts predict 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. Stockholders of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global's payout ratio is currently -2.15%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Benchmark reiterated a "buy" rating and set a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim reissued a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reiterated 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 Saturday, March 22nd. They set a "hold" rating for the company. Six analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Paramount Global presently has a consensus rating of "Hold" and an average target price of $12.10.

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.