AlTi Global Inc. Takes $492,000 Position in Paramount Global (NASDAQ:PARA)

AlTi Global Inc. bought a new stake in Paramount Global (NASDAQ:PARA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 47,875 shares of the company's stock, valued at approximately $492,000.

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

Paramount Global Stock Up 2.2 %

Shares of PARA stock traded up $0.25 during trading hours on Tuesday, reaching $11.50. 6,551,904 shares of the stock were exchanged, compared to its average volume of 10,490,720. Paramount Global has a 12-month low of $9.54 and a 12-month high of $13.40. The business's fifty day moving average is $11.41 and its two-hundred day moving average is $11.04. 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 market capitalization of $7.71 billion, a P/E ratio of -1.40, a P/E/G ratio of 1.68 and a beta of 1.25.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced 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). The firm 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%. As a group, research analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.74%. Paramount Global's dividend payout ratio is currently -2.15%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PARA. Morgan Stanley lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Tuesday. UBS Group lowered their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a report on Wednesday, April 2nd. Finally, Benchmark dropped their target price on Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Paramount Global has a consensus rating of "Hold" and an average price target of $11.58.

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.