Paramount Global (NASDAQ:PARA) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in Paramount Global (NASDAQ:PARA - Free Report) by 25.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,903 shares of the company's stock after selling 125,526 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Paramount Global worth $3,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after acquiring an additional 1,395 shares in the last quarter. Ossiam increased its position in shares of Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after purchasing an additional 1,022 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global during the 4th quarter valued at about $31,000. Rakuten Securities Inc. increased its position in shares of Paramount Global by 187.8% during the 4th 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. bought a new position in shares of Paramount Global during the 4th quarter valued at about $35,000. Institutional investors own 73.00% of the company's stock.

Wall Street Analysts Forecast Growth

PARA has been the topic of several recent research reports. Benchmark reduced their price target on Paramount Global from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. StockNews.com started coverage on Paramount Global in a report on Friday, May 9th. They issued a "hold" rating on the stock. UBS Group reduced their price target on Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reiterated a "hold" rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 target price for the company. in a research report on Wednesday, April 2nd. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $11.58.

Paramount Global Price Performance

NASDAQ PARA traded down $0.08 during mid-day trading on Wednesday, hitting $11.92. The stock had a trading volume of 2,122,019 shares, compared to its average volume of 10,381,575. Paramount Global has a 52-week low of $9.54 and a 52-week high of $13.36. The company has a market cap of $7.99 billion, a price-to-earnings ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.25. The company has a 50 day simple moving average of $11.45 and a 200 day simple moving average of $11.09. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

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

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global's dividend payout ratio (DPR) is -2.43%.

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.