Paramount Global (NASDAQ:PARA) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its holdings in Paramount Global (NASDAQ:PARA) by 55.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,951 shares of the company’s stock after selling 39,923 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Paramount Global were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Lingotto Investment Management LLP lifted its holdings in Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock valued at $468,120,000 after acquiring an additional 1,593,579 shares during the last quarter. State Street Corp lifted its holdings in Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after acquiring an additional 6,848,037 shares during the last quarter. Geode Capital Management LLC lifted 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 valued at $157,168,000 after acquiring an additional 1,606,779 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Paramount Global by 4.7% in the 4th 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 lifted its holdings in Paramount Global by 24.7% in the 4th 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. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley upped their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Guggenheim restated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.10.

Paramount Global Price Performance

Shares of PARA opened at $11.69 on Monday. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business’s 50-day moving average is $11.05 and its 200-day moving average is $10.80.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion during 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%. Equities research analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. Paramount Global’s dividend payout ratio is currently -2.15%.

About Paramount Global

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.