Dimensional Fund Advisors LP Has $44.13 Million Stake in Paramount Global (NASDAQ:PARA)

Dimensional Fund Advisors LP cut its stake in Paramount Global (NASDAQ:PARA - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,219,543 shares of the company's stock after selling 39,317 shares during the quarter. Dimensional Fund Advisors LP owned 0.63% of Paramount Global worth $44,134,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its position in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global during the fourth quarter worth about $31,000. Rakuten Securities Inc. grew its stake in Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock valued at $32,000 after acquiring an additional 2,019 shares during the period. Atlas Capital Advisors Inc. bought a new stake in shares of Paramount Global in the fourth quarter worth about $35,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in shares of Paramount Global in the fourth quarter worth about $36,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PARA has been the subject of several research analyst reports. Benchmark decreased their price objective on Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Tuesday. Morgan Stanley reduced their price target on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Tuesday. Guggenheim restated a "buy" rating and set a $14.00 price objective 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, UBS Group cut their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Six analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $11.58.

Paramount Global Stock Performance

PARA traded up $0.08 during trading hours on Wednesday, reaching $11.58. The company's stock had a trading volume of 6,746,950 shares, compared to its average volume of 10,475,803. The company's 50-day moving average is $11.41 and its 200-day moving average is $11.04. Paramount Global has a 52 week low of $9.54 and a 52 week high of $13.40. The firm has a market cap of $7.77 billion, a PE ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25. 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 (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. On average, equities analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's dividend payout ratio is presently -2.15%.

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.