Paramount Global (NASDAQ:PARA) Position Boosted by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. increased its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 85.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,563,142 shares of the company's stock after buying an additional 718,527 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.23% of Paramount Global worth $16,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Paramount Global by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock valued at $701,242,000 after purchasing an additional 761,561 shares during the last quarter. Lingotto Investment Management LLP boosted its position in shares of Paramount Global by 3.7% during the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock worth $468,120,000 after purchasing an additional 1,593,579 shares during the period. Invesco Ltd. lifted its position in shares of Paramount Global by 5.7% during the fourth quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock worth $215,413,000 after purchasing an additional 1,119,314 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company's stock worth $162,731,000 after purchasing an additional 724,565 shares in the last quarter. Finally, Contrarius Group Holdings Ltd acquired a new stake in Paramount Global during the 4th quarter worth $146,230,000. Hedge funds and other institutional investors own 73.00% of the company's stock.

Paramount Global Stock Down 0.1 %

PARA traded down $0.01 during trading on Wednesday, hitting $11.74. The company had a trading volume of 9,558,461 shares, compared to its average volume of 11,119,949. 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 has a 50-day moving average of $11.40 and a 200-day moving average of $11.00. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The company has a market cap of $7.83 billion, a PE ratio of -1.43, a P/E/G ratio of 1.68 and a beta of 1.31.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly 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). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. As a group, analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.70%. Paramount Global's dividend payout ratio (DPR) is -2.15%.

Analysts Set New Price Targets

PARA has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a research report on Wednesday, April 2nd. UBS Group reduced their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a report on Tuesday, April 15th. StockNews.com began coverage on shares of Paramount Global in a research note on Wednesday, April 23rd. They issued a "hold" rating on the stock. Benchmark reissued a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Guggenheim reaffirmed a "buy" rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Seven research 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. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.92.

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.