Charles Schwab Investment Management Inc. Increases Position in Paramount Global (NASDAQ:PARA)

Charles Schwab Investment Management Inc. lifted its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,879,482 shares of the company's stock after acquiring an additional 136,359 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.17% of Paramount Global worth $94,239,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PARA. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Paramount Global by 8.0% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,259 shares of the company's stock worth $147,000 after purchasing an additional 907 shares during the last quarter. Ossiam raised its position in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after purchasing an additional 1,022 shares during the last quarter. Mitchell & Pahl Private Wealth LLC raised its position in shares of Paramount Global by 2.3% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 51,913 shares of the company's stock worth $621,000 after acquiring an additional 1,143 shares in the last quarter. SOL Capital Management CO raised its position in shares of Paramount Global by 0.7% in the 1st quarter. SOL Capital Management CO now owns 181,874 shares of the company's stock worth $2,175,000 after acquiring an additional 1,270 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Paramount Global by 4.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,372 shares of the company's stock worth $391,000 after acquiring an additional 1,359 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PARA. Benchmark lowered 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, May 6th. Wall Street Zen began coverage on Paramount Global in a research report on Saturday, May 17th. They issued a "hold" rating for the company. Citigroup reissued a "neutral" rating and issued a $12.00 price objective (down from $13.00) on shares of Paramount Global in a research report on Thursday, May 29th. Morgan Stanley boosted their target price on Paramount Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Finally, Loop Capital boosted their target price on Paramount Global from $10.00 to $11.00 and gave the company a "sell" rating in a research report on Friday, July 25th. Seven analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Paramount Global currently has a consensus rating of "Hold" and a consensus price target of $11.70.

Paramount Global Stock Performance

PARA stock remained flat at $11.04 during mid-day trading on Friday. The company has a market cap of $7.44 billion, a price-to-earnings ratio of -367.88, a PEG ratio of 3.07 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21. Paramount Global has a 52-week low of $9.95 and a 52-week high of $13.59. The firm's fifty day simple moving average is $12.39 and its 200 day simple moving average is $11.77.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.09. The business had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.88 billion. Paramount Global had a positive return on equity of 4.51% and a negative net margin of 0.05%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. On average, analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Paramount Global's payout ratio is -666.67%.

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.