Paramount Global (NASDAQ:PARAA) Stock Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its position in shares of Paramount Global (NASDAQ:PARAA) by 13.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,315 shares of the company’s stock after purchasing an additional 3,281 shares during the quarter. Bank of New York Mellon Corp’s holdings in Paramount Global were worth $520,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Welch Group LLC acquired a new stake in Paramount Global during the 2nd quarter valued at $298,000. B. Riley Wealth Advisors Inc. raised its stake in Paramount Global by 27.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $768,000 after purchasing an additional 7,479 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Paramount Global by 12.9% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 92,200 shares of the company’s stock worth $2,013,000 after acquiring an additional 10,500 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Paramount Global by 0.6% in the first quarter. Gabelli Funds LLC now owns 1,863,691 shares of the company’s stock worth $40,684,000 after acquiring an additional 11,300 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its stake in shares of Paramount Global by 2.6% in the first quarter. Gamco Investors INC. ET AL now owns 2,927,163 shares of the company’s stock worth $63,900,000 after acquiring an additional 74,752 shares during the last quarter. 5.98% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Performance

NASDAQ PARAA opened at $21.90 on Wednesday. Paramount Global has a 1-year low of $13.40 and a 1-year high of $26.34. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $14.29 billion, a PE ratio of -146.00 and a beta of 1.66. The firm’s fifty day simple moving average is $22.45 and its 200-day simple moving average is $21.60.

Paramount Global (NASDAQ:PARAA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.36. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.55 billion. As a group, sell-side analysts anticipate that Paramount Global will post 1.91 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Monday, September 16th. Paramount Global’s dividend payout ratio (DPR) is presently -133.33%.

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.