Paramount Global (NASDAQ:PARA) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC boosted its position in shares of Paramount Global (NASDAQ:PARA) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,257 shares of the company’s stock after acquiring an additional 1,752 shares during the quarter. New York Life Investment Management LLC’s holdings in Paramount Global were worth $1,882,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PARA. International Assets Investment Management LLC lifted its holdings in Paramount Global by 541.7% during the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock worth $10,481,000 after buying an additional 598,235 shares in the last quarter. Ariel Investments LLC raised its stake in shares of 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 in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in Paramount Global in the third quarter valued at $1,240,000. Caprock Group LLC increased its holdings in Paramount Global by 2.9% during the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock worth $746,000 after purchasing an additional 1,401 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Paramount Global by 1,201.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock valued at $1,282,000 after purchasing an additional 78,100 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Raymond James reissued a “market perform” rating on shares of Paramount Global in a research report on Tuesday, March 26th. Morgan Stanley reduced their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Tuesday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft decreased their price target 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 reissued a “neutral” rating and set a $13.00 price objective on shares of Paramount Global in a report on Tuesday, April 9th. Ten equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.58.

Paramount Global Price Performance

Paramount Global stock opened at $13.29 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm’s 50-day simple moving average is $11.60 and its 200 day simple moving average is $12.90. Paramount Global has a 52 week low of $10.12 and a 52 week high of $17.50. The firm has a market capitalization of $8.86 billion, a PE ratio of -88.59, a P/E/G ratio of 0.39 and a beta of 1.74.

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

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.50%. Paramount Global’s dividend payout ratio (DPR) is -133.32%.

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.