Zurcher Kantonalbank Zurich Cantonalbank Purchases 48,948 Shares of Paramount Global (NASDAQ:PARA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 46.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 155,452 shares of the company's stock after acquiring an additional 48,948 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Paramount Global were worth $1,626,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PARA. Lingotto Investment Management LLP grew 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 valued at $468,120,000 after buying an additional 1,593,579 shares during the period. State Street Corp raised its stake in 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 purchasing an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC grew 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 valued at $157,168,000 after acquiring an additional 1,606,779 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Paramount Global by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock valued at $80,993,000 after acquiring an additional 348,298 shares during the last quarter. Finally, Bank of New York Mellon Corp grew 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 acquiring an additional 908,515 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

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Paramount Global Trading Down 0.6 %

Paramount Global stock traded down $0.07 during mid-day trading on Friday, hitting $11.86. The company's stock had a trading volume of 14,046,132 shares, compared to its average volume of 12,383,427. The company has a 50 day moving average of $11.13 and a 200-day moving average of $10.83. The stock has a market cap of $7.91 billion, a PE ratio of -1.44, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a one year low of $9.54 and a one year high of $14.54.

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 the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, research analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The company 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 1.69%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global's payout ratio is -2.15%.

Wall Street Analysts Forecast Growth

PARA has been the topic of several recent analyst reports. Benchmark reiterated a "buy" rating and issued a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reaffirmed a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their target price on Paramount Global from $10.00 to $11.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $12.10.

Paramount Global 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.