AQR Capital Management LLC Buys 34,441 Shares of Paramount Global (NASDAQ:PARA)

AQR Capital Management LLC increased its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 8.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 463,499 shares of the company's stock after buying an additional 34,441 shares during the period. AQR Capital Management LLC owned 0.07% of Paramount Global worth $4,832,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 in the last quarter. Franklin Resources Inc. raised its stake in Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock valued at $2,029,000 after purchasing an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. lifted its position in Paramount Global by 16.2% during the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock valued at $19,898,000 after purchasing an additional 265,408 shares during the last quarter. Bank of New York Mellon Corp grew its stake 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Paramount Global in the 4th quarter worth $5,457,000. Institutional investors own 73.00% of the company's stock.

Paramount Global Trading Up 2.2 %

NASDAQ PARA traded up $0.26 during trading on Friday, hitting $11.94. The company had a trading volume of 10,208,614 shares, compared to its average volume of 10,438,520. The company's fifty day moving average is $11.43 and its 200-day moving average is $11.07. Paramount Global has a one year low of $9.54 and a one year high of $13.40. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a market cap of $8.01 billion, a price-to-earnings ratio of -1.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. During the same period last year, the business posted $0.62 earnings per share. Paramount Global's quarterly revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio is presently -2.43%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com initiated coverage on Paramount Global in a research note on Friday. They issued a "hold" rating on the stock. Morgan Stanley cut their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company. in a research note on Wednesday, April 2nd. UBS Group decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Finally, Guggenheim restated a "buy" rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.