Bank of New York Mellon Corp Grows Holdings in Paramount Global (NASDAQ:PARAA)

Bank of New York Mellon Corp raised its position in shares of Paramount Global (NASDAQ:PARAA) by 450.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 124,832 shares of the company’s stock after purchasing an additional 102,165 shares during the quarter. Bank of New York Mellon Corp’s holdings in Paramount Global were worth $2,784,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Slotnik Capital LLC acquired a new position in Paramount Global in the third quarter worth $1,401,000. Guardian Investment Management bought a new position in shares of Paramount Global in the 4th quarter worth about $963,000. Geode Capital Management LLC boosted its holdings in shares of Paramount Global by 16.7% in the 3rd quarter. Geode Capital Management LLC now owns 247,015 shares of the company’s stock valued at $5,400,000 after buying an additional 35,305 shares during the period. Atom Investors LP bought a new stake in shares of Paramount Global during the 3rd quarter valued at about $244,000. Finally, State Street Corp grew its holdings in shares of Paramount Global by 20.2% during the third quarter. State Street Corp now owns 49,366 shares of the company’s stock valued at $1,082,000 after purchasing an additional 8,287 shares during the last quarter. Institutional investors and hedge funds own 5.98% of the company’s stock.

Paramount Global Stock Performance

PARAA stock opened at $22.74 on Friday. Paramount Global has a 1 year low of $16.59 and a 1 year high of $26.34. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a market capitalization of $15.17 billion, a price-to-earnings ratio of -2.77 and a beta of 1.57. The stock’s fifty day moving average is $22.65 and its two-hundred day moving average is $22.38.

Paramount Global (NASDAQ:PARAA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.27). The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, research analysts predict that Paramount Global will post 2.25 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.88%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -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.