Paramount Global (NASDAQ:PARA) Shares Purchased by First Trust Advisors LP

First Trust Advisors LP grew its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 1,482.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 554,430 shares of the company's stock after purchasing an additional 519,402 shares during the period. First Trust Advisors LP owned approximately 0.08% of Paramount Global worth $5,799,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PARA. Canada Pension Plan Investment Board lifted its stake in Paramount Global by 8.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 847,300 shares of the company's stock worth $8,863,000 after acquiring an additional 68,700 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Paramount Global by 3.3% in the 4th quarter. Marshall Wace LLP now owns 151,292 shares of the company's stock valued at $1,583,000 after purchasing an additional 4,855 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of Paramount Global by 294.3% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 545,550 shares of the company's stock worth $5,706,000 after purchasing an additional 407,200 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Paramount Global by 54.8% during the fourth quarter. Gabelli Funds LLC now owns 734,984 shares of the company's stock worth $7,688,000 after purchasing an additional 260,084 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Paramount Global in the fourth quarter valued at $935,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Trading Down 0.2 %

NASDAQ:PARA traded down $0.03 on Tuesday, reaching $11.23. The stock had a trading volume of 405,319 shares, compared to its average volume of 10,519,379. The company has a market cap of $7.53 billion, a price-to-earnings ratio of -1.37, a P/E/G ratio of 1.68 and a beta of 1.25. Paramount Global has a 12-month low of $9.54 and a 12-month high of $13.79. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The firm's fifty day moving average is $11.41 and its two-hundred day moving average is $11.04.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion for the quarter, compared to analysts' expectations of $8.07 billion. Equities analysts expect 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, April 1st. Shareholders of record on Monday, March 17th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio is currently -2.15%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com initiated coverage on Paramount Global in a research report on Thursday, May 1st. They set a "hold" rating on the stock. UBS Group reduced their price objective 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. Morgan Stanley lifted 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 restated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Six research 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. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $11.67.

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.