US Bancorp DE Sells 3,046 Shares of Paramount Global (NASDAQ:PARA)

US Bancorp DE cut its holdings in Paramount Global (NASDAQ:PARA) by 20.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,992 shares of the company’s stock after selling 3,046 shares during the period. US Bancorp DE’s holdings in Paramount Global were worth $125,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in Paramount Global in the 4th quarter valued at about $177,000. Lingotto Investment Management LLP boosted its stake in shares of Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock worth $468,120,000 after buying an additional 1,593,579 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Paramount Global by 28.0% during the fourth quarter. Illinois Municipal Retirement Fund now owns 228,373 shares of the company’s stock valued at $2,389,000 after purchasing an additional 49,911 shares during the period. Bank of New York Mellon Corp grew its holdings in Paramount Global by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after purchasing an additional 908,515 shares during the period. Finally, Blackhawk Capital Partners LLC. bought a new position in Paramount Global during the fourth quarter valued at $434,000. 73.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

PARA has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim restated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Morgan Stanley lifted their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus price target of $12.10.

Paramount Global Stock Up 0.4 %

NASDAQ PARA opened at $11.69 on Monday. The business’s 50-day moving average is $11.05 and its 200 day moving average is $10.80. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $7.80 billion, a PE ratio of -1.42, a PEG ratio of 1.68 and a beta of 1.60. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Sell-side analysts forecast that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. Paramount Global’s payout ratio is currently -2.15%.

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.