Paramount Global (NASDAQ:PARA) Holdings Raised by Northern Trust Corp

Northern Trust Corp grew its holdings in shares of Paramount Global (NASDAQ:PARA - Free Report) by 7.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,479,919 shares of the company's stock after acquiring an additional 359,921 shares during the period. Northern Trust Corp owned about 0.82% of Paramount Global worth $57,320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PARA. Allworth Financial LP lifted its position in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares during the last quarter. Ossiam raised its stake in Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after acquiring an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global in the fourth quarter worth about $31,000. Rakuten Securities Inc. grew its holdings in shares of Paramount Global by 187.8% during the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock valued at $32,000 after purchasing an additional 2,019 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of Paramount Global during the 4th quarter worth approximately $35,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PARA has been the topic of a number of recent research reports. StockNews.com assumed coverage on Paramount Global in a research note on Friday. They issued a "hold" rating on the stock. Benchmark cut their price target on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a report on Tuesday. Morgan Stanley decreased their price objective on Paramount Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Tuesday. Guggenheim reaffirmed a "buy" rating and set a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft cut Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target for the company. in a research note on Wednesday, April 2nd. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Paramount Global presently has a consensus rating of "Hold" and an average target price of $11.58.

Paramount Global Trading Up 2.2 %

PARA traded up $0.26 during trading on Friday, reaching $11.94. The company had a trading volume of 10,208,614 shares, compared to its average volume of 10,434,746. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 12-month low of $9.54 and a 12-month high of $13.40. The company has a market cap of $8.01 billion, a price-to-earnings ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.25. The firm's 50-day simple moving average is $11.43 and its 200 day simple moving average is $11.06.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.27 by $0.02. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $7.14 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The firm's quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.68%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is -2.15%.

About Paramount Global

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.