Paramount Global (NASDAQ:PARA) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 54.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 207,305 shares of the company's stock after purchasing an additional 73,112 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Paramount Global were worth $3,066,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pacific Center for Financial Services bought a new stake in Paramount Global during the first quarter valued at about $35,000. ICA Group Wealth Management LLC bought a new position in shares of Paramount Global during the 4th quarter valued at approximately $32,000. Cornerstone Planning Group LLC purchased a new stake in Paramount Global in the 2nd quarter worth approximately $30,000. VisionPoint Advisory Group LLC bought a new stake in Paramount Global during the 3rd quarter worth approximately $25,000. Finally, Anchor Investment Management LLC purchased a new position in Paramount Global during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 73.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wolfe Research raised shares of Paramount Global from an "underperform" rating to a "peer perform" rating in a research note on Thursday, April 4th. Raymond James restated a "market perform" rating on shares of Paramount Global in a research report on Tuesday, March 26th. Wells Fargo & Company upgraded Paramount Global from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $15.00 to $18.00 in a research report on Wednesday, December 20th. Needham & Company LLC reissued a "buy" rating and issued a $15.00 price target on shares of Paramount Global in a report on Thursday, February 29th. Finally, Morgan Stanley cut their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Tuesday, February 27th. Eight equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.79.

Paramount Global Trading Up 1.5 %

Shares of NASDAQ:PARA traded up $0.16 during trading on Thursday, hitting $10.97. The company had a trading volume of 10,412,449 shares, compared to its average volume of 18,911,232. The stock has a market cap of $7.16 billion, a price-to-earnings ratio of -10.75, a price-to-earnings-growth ratio of 0.37 and a beta of 1.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17. The company has a fifty day simple moving average of $11.57 and a two-hundred day simple moving average of $12.87. Paramount Global has a one year low of $10.12 and a one year high of $24.00.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.05) by $0.09. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same period last year, the company earned $0.08 earnings per share. Paramount Global's revenue was down 6.1% on a year-over-year basis. As a group, equities analysts forecast that Paramount Global will post 1.2 earnings per share for the current year.

Paramount Global Announces Dividend

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

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.