International Assets Investment Management LLC Boosts Stake in Paramount Global (NASDAQ:PARA)

International Assets Investment Management LLC increased its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 541.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 708,662 shares of the company's stock after acquiring an additional 598,235 shares during the period. International Assets Investment Management LLC owned about 0.11% of Paramount Global worth $10,481,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PARA. Ariel Investments LLC grew its holdings in Paramount Global by 18.0% during the third quarter. Ariel Investments LLC now owns 11,330,850 shares of the company's stock valued at $146,168,000 after purchasing an additional 1,731,714 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Paramount Global during the third quarter valued at $1,240,000. Caprock Group LLC grew its holdings in Paramount Global by 2.9% during the fourth quarter. Caprock Group LLC now owns 50,252 shares of the company's stock valued at $746,000 after purchasing an additional 1,401 shares during the period. First Citizens Bank & Trust Co. bought a new position in Paramount Global during the fourth quarter valued at $2,379,000. Finally, Deutsche Bank AG grew its holdings in Paramount Global by 36.0% during the third quarter. Deutsche Bank AG now owns 1,639,751 shares of the company's stock valued at $21,153,000 after purchasing an additional 433,696 shares during the period. 73.00% of the stock is owned by institutional investors.

Paramount Global Trading Down 2.8 %

Shares of NASDAQ PARA traded down $0.31 during trading hours on Friday, hitting $10.96. The company's stock had a trading volume of 14,768,834 shares, compared to its average volume of 24,373,066. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of -10.75, a P/E/G ratio of 0.42 and a beta of 1.77. Paramount Global has a 12 month low of $10.12 and a 12 month high of $24.00. The business has a 50-day simple moving average of $11.75 and a 200-day simple moving average of $12.91.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. The business had revenue of $7.64 billion for the quarter, compared to analysts' expectations of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business's revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 EPS. On average, analysts anticipate that Paramount Global will post 1.17 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.82%. Paramount Global's payout ratio is -19.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PARA shares. Redburn Atlantic lowered Paramount Global from a "neutral" rating to a "sell" rating and cut their price target for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Moffett Nathanson raised Paramount Global from a "sell" rating to a "neutral" rating and set a $13.00 price target for the company in a report on Tuesday, January 9th. StockNews.com upgraded Paramount Global from a "sell" rating to a "hold" rating in a research report on Wednesday. Wells Fargo & Company upgraded Paramount Global from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $15.00 to $18.00 in a research report on Wednesday, December 20th. Finally, JPMorgan Chase & Co. lowered their price objective on Paramount Global from $13.00 to $12.00 and set an "underweight" rating on the stock in a research report on Thursday, April 4th. Eight equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $13.79.

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.