US Bancorp DE Decreases Holdings in Paramount Global (NASDAQ:PARA)

US Bancorp DE cut its stake in shares of Paramount Global (NASDAQ:PARA) by 20.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,992 shares of the company’s stock after selling 3,046 shares during the period. US Bancorp DE’s holdings in Paramount Global were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PARA. Proficio Capital Partners LLC bought a new stake in shares of Paramount Global during the 4th quarter valued at $177,000. Lingotto Investment Management LLP boosted 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 worth $468,120,000 after buying an additional 1,593,579 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in Paramount Global by 28.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 228,373 shares of the company’s stock worth $2,389,000 after buying an additional 49,911 shares during the period. Bank of New York Mellon Corp boosted 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 worth $47,973,000 after buying an additional 908,515 shares during the period. Finally, Blackhawk Capital Partners LLC. bought a new position in Paramount Global in the 4th quarter worth $434,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PARA. Guggenheim reissued a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley upped their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.10.

Paramount Global Trading Up 0.4 %

Shares of Paramount Global stock opened at $11.69 on Monday. 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 firm has a fifty day moving average price of $11.05 and a 200 day moving average price of $10.80. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The stock has a market cap of $7.80 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data 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). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Equities research analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

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.