10,658 Shares in Paramount Global (NASDAQ:PARA) Purchased by Altfest L J & Co. Inc.

Altfest L J & Co. Inc. acquired a new position in Paramount Global (NASDAQ:PARAFree Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 10,658 shares of the company’s stock, valued at approximately $158,000.

A number of other large investors have also modified their holdings of PARA. BlackRock Inc. increased its holdings in shares of Paramount Global by 30.4% in the 1st quarter. BlackRock Inc. now owns 54,882,034 shares of the company’s stock worth $1,224,418,000 after acquiring an additional 12,783,448 shares during the period. Ariel Investments LLC grew its position in Paramount Global by 35.4% in the 2nd quarter. Ariel Investments LLC now owns 9,599,136 shares of the company’s stock valued at $152,722,000 after buying an additional 2,512,163 shares in the last quarter. State Street Corp grew its position in Paramount Global by 7.3% in the 1st quarter. State Street Corp now owns 35,333,056 shares of the company’s stock valued at $796,459,000 after buying an additional 2,402,874 shares in the last quarter. Two Sigma Investments LP bought a new position in Paramount Global in the 1st quarter valued at about $41,174,000. Finally, Charles Schwab Investment Management Inc. grew its position in Paramount Global by 15.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company’s stock valued at $171,567,000 after buying an additional 1,767,173 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PARA. Redburn Atlantic lowered shares of Paramount Global from a “neutral” rating to a “sell” rating and decreased their target price for the company from $17.00 to $11.00 in a research report on Thursday, January 11th. Raymond James restated a “market perform” rating on shares of Paramount Global in a research report on Tuesday. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $15.00 to $18.00 in a report on Wednesday, December 20th. StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Loop Capital cut shares of Paramount Global from a “hold” rating to a “sell” rating and set a $12.00 target price for the company. in a report on Friday, December 8th. Ten equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.05.

Check Out Our Latest Research Report on Paramount Global

Paramount Global Trading Up 0.6 %

Shares of PARA opened at $11.77 on Friday. The firm’s 50 day moving average price is $12.25 and its 200 day moving average price is $13.04. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. Paramount Global has a twelve month low of $10.16 and a twelve month high of $24.00.

Paramount Global (NASDAQ:PARAGet Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. The firm had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, equities research analysts forecast that Paramount Global will post 1.21 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.70%. The ex-dividend date is Thursday, March 14th. Paramount Global’s payout ratio is presently -19.61%.

About Paramount Global

(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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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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