Paramount Global (NASDAQ:PARAA) Shares Acquired by Poehling Capital Management INC.

Poehling Capital Management INC. boosted its holdings in shares of Paramount Global (NASDAQ:PARAA - Free Report) by 8.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 243,714 shares of the company's stock after buying an additional 18,758 shares during the quarter. Paramount Global accounts for 1.4% of Poehling Capital Management INC.'s investment portfolio, making the stock its 20th largest position. Poehling Capital Management INC.'s holdings in Paramount Global were worth $5,544,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Paramount Global by 1,152.0% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 125,200 shares of the company's stock worth $2,792,000 after purchasing an additional 115,200 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Paramount Global by 450.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company's stock valued at $2,784,000 after buying an additional 102,165 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Paramount Global by 4,605.4% during the 1st quarter. GAMMA Investing LLC now owns 22,727 shares of the company's stock worth $517,000 after buying an additional 22,244 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Paramount Global by 11.6% during the 4th quarter. Geode Capital Management LLC now owns 275,630 shares of the company's stock worth $6,147,000 after acquiring an additional 28,615 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Paramount Global by 98.1% in the 4th quarter. Northern Trust Corp now owns 35,264 shares of the company's stock valued at $786,000 after acquiring an additional 17,461 shares during the last quarter. Hedge funds and other institutional investors own 5.98% of the company's stock.

Paramount Global Stock Performance

Shares of PARAA stock traded up $0.19 during mid-day trading on Tuesday, hitting $23.27. 15,683 shares of the stock were exchanged, compared to its average volume of 36,822. The stock's fifty day simple moving average is $22.70 and its two-hundred day simple moving average is $22.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.18 and a current ratio of 1.29. Paramount Global has a 12-month low of $21.32 and a 12-month high of $24.50. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of -2.83 and a beta of 1.29.

Paramount Global (NASDAQ:PARAA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.10). Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The business had revenue of $7.19 billion for the quarter, compared to analysts' expectations of $7.14 billion. On average, analysts forecast that Paramount Global will post 2.25 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global's dividend payout ratio is presently -2.43%.

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.