Paramount Global (NASDAQ:PARA) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its position in Paramount Global (NASDAQ:PARAFree Report) by 40.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,464 shares of the company’s stock after selling 15,398 shares during the quarter. Teacher Retirement System of Texas’ holdings in Paramount Global were worth $332,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Paramount Global by 5.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after acquiring an additional 769 shares during the period. Highlander Capital Management LLC lifted its holdings in shares of Paramount Global by 13.4% during the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after purchasing an additional 850 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Paramount Global by 3.1% during the fourth quarter. Kestra Private Wealth Services LLC now owns 29,171 shares of the company’s stock worth $431,000 after purchasing an additional 879 shares during the period. Arizona State Retirement System lifted its holdings in shares of Paramount Global by 0.7% during the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock worth $1,985,000 after purchasing an additional 887 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Paramount Global by 1.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,971 shares of the company’s stock worth $724,000 after purchasing an additional 897 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Trading Up 0.4 %

Shares of PARA stock opened at $12.01 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. Paramount Global has a 1 year low of $10.12 and a 1 year high of $17.50. The stock has a fifty day moving average of $12.03 and a two-hundred day moving average of $12.99. The firm has a market capitalization of $8.00 billion, a PE ratio of -80.06, a price-to-earnings-growth ratio of 0.36 and a beta of 1.74.

Paramount Global (NASDAQ:PARAGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.28. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. As a group, research analysts expect that Paramount Global will post 1.32 EPS for the current 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 issued a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.67%. Paramount Global’s dividend payout ratio (DPR) is -133.32%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Argus downgraded Paramount Global from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. 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. JPMorgan Chase & Co. reduced 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. Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Finally, Wells Fargo & Company dropped their price target on Paramount Global from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Nine analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.58.

Get Our Latest Stock Report on Paramount Global

Paramount Global Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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