Charles Schwab Investment Management Inc. Increases Stock Holdings in Paramount Global (NASDAQ:PARA)

Charles Schwab Investment Management Inc. increased its holdings in Paramount Global (NASDAQ:PARA) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,743,123 shares of the company’s stock after purchasing an additional 348,298 shares during the period. Charles Schwab Investment Management Inc. owned 1.16% of Paramount Global worth $80,993,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PARA. Robeco Institutional Asset Management B.V. grew its position in shares of Paramount Global by 85.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 58,753 shares of the company’s stock valued at $624,000 after purchasing an additional 27,023 shares during the period. Principal Financial Group Inc. grew its position in Paramount Global by 22.3% during the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock valued at $7,258,000 after acquiring an additional 124,740 shares during the period. CWA Asset Management Group LLC purchased a new stake in Paramount Global during the third quarter valued at about $286,000. State of New Jersey Common Pension Fund D grew its position in Paramount Global by 14.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 231,127 shares of the company’s stock valued at $2,455,000 after acquiring an additional 29,057 shares during the period. Finally, Kennebec Savings Bank purchased a new stake in Paramount Global during the third quarter valued at about $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Down 1.2 %

NASDAQ:PARA opened at $12.00 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The business’s 50-day simple moving average is $10.97 and its 200 day simple moving average is $10.78. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of -1.46, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. As a group, sell-side analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is -2.15%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PARA. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reissued a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.10.

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.