Charles Schwab Investment Management Inc. Acquires 348,298 Shares of Paramount Global (NASDAQ:PARA)

Charles Schwab Investment Management Inc. lifted its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,743,123 shares of the company's stock after purchasing an additional 348,298 shares during the period. Charles Schwab Investment Management Inc. owned 1.16% of Paramount Global worth $80,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Lingotto Investment Management LLP grew 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 in the last quarter. State Street Corp grew its position in Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company's stock worth $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC grew its position in Paramount Global by 12.1% during the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company's stock worth $157,168,000 after buying an additional 1,606,779 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Paramount Global by 24.7% during 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 acquiring an additional 908,515 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in Paramount Global by 48.1% in the 4th quarter. Allianz Asset Management GmbH now owns 2,425,849 shares of the company's stock valued at $25,374,000 after acquiring an additional 787,516 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their target price 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. Guggenheim reaffirmed a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Finally, Benchmark reissued a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $12.10.

Paramount Global Trading Up 0.4 %

Paramount Global stock traded up $0.05 during trading hours on Friday, hitting $11.69. The stock had a trading volume of 7,306,635 shares, compared to its average volume of 9,411,659. The business's 50 day simple moving average is $11.03 and its 200-day simple moving average is $10.79. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. On average, equities analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.71%. Paramount Global's dividend payout ratio is -2.15%.

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.