US Bancorp DE Purchases 7,327 Shares of Paramount Global (NASDAQ:PARA)

US Bancorp DE lifted its position in Paramount Global (NASDAQ:PARA) by 61.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,319 shares of the company’s stock after buying an additional 7,327 shares during the quarter. US Bancorp DE’s holdings in Paramount Global were worth $231,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Ariel Investments LLC boosted its position in Paramount Global by 3.2% during the fourth quarter. Ariel Investments LLC now owns 14,663,907 shares of the company’s stock worth $153,384,000 after purchasing an additional 460,539 shares during the period. Slate Path Capital LP boosted its position in Paramount Global by 42.3% during the fourth quarter. Slate Path Capital LP now owns 12,586,000 shares of the company’s stock worth $131,650,000 after purchasing an additional 3,741,000 shares during the period. Hudson Bay Capital Management LP boosted its position in Paramount Global by 9.0% during the fourth quarter. Hudson Bay Capital Management LP now owns 6,601,039 shares of the company’s stock worth $69,047,000 after purchasing an additional 545,448 shares during the period. Northern Trust Corp boosted its position in Paramount Global by 7.0% during the fourth quarter. Northern Trust Corp now owns 5,479,919 shares of the company’s stock worth $57,320,000 after purchasing an additional 359,921 shares during the period. Finally, Deutsche Bank AG boosted its position in Paramount Global by 11.6% during the fourth quarter. Deutsche Bank AG now owns 3,808,989 shares of the company’s stock worth $39,842,000 after purchasing an additional 397,231 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of NASDAQ:PARA opened at $11.04 on Friday. The business’s fifty day moving average price is $12.39 and its two-hundred day moving average price is $11.77. Paramount Global has a fifty-two week low of $9.95 and a fifty-two week high of $13.59. The stock has a market capitalization of $7.44 billion, a price-to-earnings ratio of -367.88, a price-to-earnings-growth ratio of 3.07 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.09. Paramount Global had a positive return on equity of 4.51% and a negative net margin of 0.05%. The firm had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.88 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. As a group, analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Paramount Global’s payout ratio is currently -666.67%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PARA. Wells Fargo & Company decreased their target price on Paramount Global from $12.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Tuesday, July 22nd. Wall Street Zen began coverage on Paramount Global in a research report on Saturday, May 17th. They set a “hold” rating for the company. Loop Capital upped their target price on Paramount Global from $10.00 to $11.00 and gave the stock a “sell” rating in a research report on Friday, July 25th. Finally, Seaport Res Ptn lowered Paramount Global from a “hold” rating to a “strong sell” rating in a report on Monday, July 28th. Seven equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Paramount Global presently has an average rating of “Hold” and an average price target of $11.70.

Paramount Global 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.