Paramount Global (NASDAQ:PARA) Shares Acquired by Ariel Investments LLC

Ariel Investments LLC raised its position in Paramount Global (NASDAQ:PARA - Free Report) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,663,907 shares of the company's stock after buying an additional 460,539 shares during the period. Paramount Global comprises 1.6% of Ariel Investments LLC's investment portfolio, making the stock its 29th biggest position. Ariel Investments LLC owned approximately 2.20% of Paramount Global worth $153,384,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in Paramount Global in the 3rd quarter valued at $196,000. Franklin Resources Inc. grew its position in shares of 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 during the period. Retirement Systems of Alabama increased its stake in shares of Paramount Global by 12.8% during the third quarter. Retirement Systems of Alabama now owns 179,384 shares of the company's stock worth $1,905,000 after purchasing an additional 20,335 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Paramount Global by 74.0% during the 4th quarter. GAMMA Investing LLC now owns 10,842 shares of the company's stock worth $113,000 after purchasing an additional 4,611 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in Paramount Global in the 4th quarter valued at about $255,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Trading Down 1.6 %

Shares of Paramount Global stock traded down $0.18 during trading hours on Monday, hitting $11.25. The company's stock had a trading volume of 8,504,636 shares, compared to its average volume of 10,558,856. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of -1.37, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a twelve month low of $9.54 and a twelve month high of $13.79. The firm has a fifty day moving average of $11.41 and a 200-day moving average of $11.04.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $8.07 billion. Research analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is -2.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PARA shares. UBS Group cut their price objective on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Guggenheim restated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reiterated a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com assumed coverage on shares of Paramount Global in a research note on Thursday. They issued a "hold" rating on the stock. Finally, Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $11.92.

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.