New York State Common Retirement Fund Has $3.84 Million Stock Position in Paramount Global (NASDAQ:PARA)

New York State Common Retirement Fund raised its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,866 shares of the company's stock after purchasing an additional 20,500 shares during the period. New York State Common Retirement Fund's holdings in Paramount Global were worth $3,838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Mattson Financial Services LLC bought a new position in shares of Paramount Global during the fourth quarter worth about $28,000. Ossiam boosted its holdings in shares of Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after buying an additional 1,022 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Paramount Global in the fourth quarter valued at $35,000. Resona Asset Management Co. Ltd. acquired a new position in Paramount Global during the fourth quarter worth $36,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Paramount Global during the fourth quarter worth $45,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on PARA shares. JPMorgan Chase & Co. reduced their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. Wall Street Zen initiated coverage on shares of Paramount Global in a report on Saturday, May 17th. They set a "hold" rating for the company. Guggenheim reissued a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, June 26th. UBS Group cut their target price 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. Finally, Citigroup reiterated a "neutral" rating and issued a $12.00 price target (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.67.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $13.11 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.18 and a debt-to-equity ratio of 0.84. The firm's 50-day moving average price is $12.32 and its 200-day moving average price is $11.60. The firm has a market capitalization of $8.84 billion, a P/E ratio of -1.59, a P/E/G ratio of 3.95 and a beta of 1.19. Paramount Global has a 1-year low of $9.95 and a 1-year high of $13.29.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. During the same quarter last year, the firm posted $0.62 EPS. Paramount Global's revenue was down 6.4% compared to the same quarter last year. Equities research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 annualized dividend and a yield of 1.53%. Paramount Global's dividend payout ratio (DPR) is -2.43%.

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.

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