Mutual of America Capital Management LLC Has $957,000 Stock Holdings in Paramount Global (NASDAQ:PARA)

Mutual of America Capital Management LLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,731 shares of the company’s stock after selling 2,918 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Paramount Global were worth $957,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in PARA. Kentucky Retirement Systems acquired a new stake in Paramount Global during the 3rd quarter valued at $489,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Paramount Global during the 3rd quarter valued at $218,000. IFP Advisors Inc lifted its holdings in shares of Paramount Global by 4.9% during the third quarter. IFP Advisors Inc now owns 31,379 shares of the company’s stock worth $405,000 after buying an additional 1,480 shares in the last quarter. DnB Asset Management AS lifted its holdings in shares of Paramount Global by 6.6% during the third quarter. DnB Asset Management AS now owns 106,114 shares of the company’s stock worth $1,369,000 after buying an additional 6,526 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Paramount Global by 433.6% during the third quarter. SG Americas Securities LLC now owns 146,642 shares of the company’s stock worth $1,892,000 after buying an additional 119,159 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Paramount Global stock opened at $12.38 on Tuesday. Paramount Global has a 12-month low of $10.12 and a 12-month high of $24.00. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $11.50 and its two-hundred day moving average price is $12.87. The stock has a market cap of $8.08 billion, a PE ratio of -12.14, a P/E/G ratio of 0.44 and a beta of 1.77.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $0.08 earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, analysts expect that Paramount Global will post 1.2 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company 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 $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio is currently -19.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PARA shares. JPMorgan Chase & Co. dropped their target price on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a report on Thursday, April 4th. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Paramount Global in a report on Thursday, February 29th. Redburn Atlantic downgraded Paramount Global from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 price target on shares of Paramount Global in a research note on Tuesday, April 9th. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.79.

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.