Mitsubishi UFJ Asset Management Co. Ltd. Has $6.06 Million Holdings in Paramount Global (NASDAQ:PARA)

Mitsubishi UFJ Asset Management Co. Ltd. decreased its position in Paramount Global (NASDAQ:PARA) by 27.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 567,938 shares of the company’s stock after selling 212,576 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of Paramount Global worth $6,060,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after buying an additional 1,395 shares in the last quarter. Insight Inv LLC boosted its position in shares of Paramount Global by 9.8% in the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after acquiring an additional 1,825 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Paramount Global by 9.6% in the third quarter. Rockefeller Capital Management L.P. now owns 21,146 shares of the company’s stock valued at $225,000 after acquiring an additional 1,845 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its position in Paramount Global by 3.8% during the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 50,770 shares of the company’s stock worth $531,000 after acquiring an additional 1,848 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in Paramount Global by 7.0% in the 4th quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock worth $293,000 after purchasing an additional 1,874 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

Paramount Global stock opened at $11.96 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.98 billion, a PE ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.60. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The business’s 50-day moving average price is $11.31 and its two-hundred day moving average price is $10.91.

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

Paramount Global Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. StockNews.com began coverage on Paramount Global in a research note on Sunday. They set a “hold” rating on the stock. Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley increased their target price on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Paramount Global currently has an average rating of “Hold” and a consensus target price 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.