New York State Common Retirement Fund Has $6.23 Million Holdings in Paramount Global (NASDAQ:PARA)

New York State Common Retirement Fund trimmed its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 12.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 421,403 shares of the company's stock after selling 62,616 shares during the quarter. New York State Common Retirement Fund owned about 0.06% of Paramount Global worth $6,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PARA. Charles Schwab Investment Management Inc. boosted its position in Paramount Global by 15.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company's stock valued at $171,567,000 after buying an additional 1,767,173 shares during the last quarter. Ariel Investments LLC boosted its holdings in Paramount Global by 18.0% in the third quarter. Ariel Investments LLC now owns 11,330,850 shares of the company's stock valued at $146,168,000 after acquiring an additional 1,731,714 shares during the last quarter. Invesco Ltd. raised its holdings in Paramount Global by 9.4% during the 3rd quarter. Invesco Ltd. now owns 14,832,568 shares of the company's stock worth $191,340,000 after purchasing an additional 1,272,851 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Paramount Global during the 3rd quarter valued at about $8,850,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Paramount Global by 541.7% in the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company's stock valued at $10,481,000 after purchasing an additional 598,235 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

Paramount Global Stock Down 7.0 %

Shares of NASDAQ:PARA traded down $0.97 during mid-day trading on Friday, reaching $12.89. 67,049,331 shares of the stock were exchanged, compared to its average volume of 24,884,946. The company has a market cap of $8.41 billion, a P/E ratio of -85.93, a P/E/G ratio of 0.42 and a beta of 1.74. The stock's 50 day simple moving average is $11.55 and its 200-day simple moving average is $12.89. The company has a quick ratio of 1.17, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. Paramount Global has a one year low of $10.12 and a one year high of $19.04.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.28. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The company had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.73 billion. During the same period last year, the business earned $0.09 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Paramount Global will post 1.32 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. Paramount Global's dividend payout ratio is -133.32%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PARA shares. Needham & Company LLC downgraded shares of Paramount Global from a "buy" rating to a "hold" rating in a research note on Tuesday. Raymond James reiterated a "market perform" rating on shares of Paramount Global in a research report on Tuesday, March 26th. Moffett Nathanson raised Paramount Global from a "sell" rating to a "neutral" rating and set a $13.00 price objective for the company in a research note on Tuesday, January 9th. Rosenblatt Securities reissued a "neutral" rating and issued a $13.00 target price on shares of Paramount Global in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Paramount Global from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, February 28th. Ten equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.58.

Paramount Global Company 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.