Paramount Global (NASDAQ:PARA) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC lifted its position in shares of Paramount Global (NASDAQ:PARA) by 30.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,730 shares of the company’s stock after acquiring an additional 6,217 shares during the quarter. NEOS Investment Management LLC’s holdings in Paramount Global were worth $280,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Paramount Global by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company’s stock worth $80,993,000 after purchasing an additional 348,298 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Paramount Global by 824.1% during the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after buying an additional 174,514 shares during the period. Wilsey Asset Management Inc. lifted its position in shares of Paramount Global by 16.2% during the 4th quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after buying an additional 265,408 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Paramount Global by 24.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock valued at $47,973,000 after acquiring an additional 908,515 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Paramount Global by 22.3% in the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock worth $7,258,000 after acquiring an additional 124,740 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. 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. StockNews.com began coverage on Paramount Global in a report on Sunday. They set a “hold” rating for the company. Guggenheim reiterated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Benchmark restated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Six equities research 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.10.

Paramount Global Trading Up 3.5 %

Shares of PARA opened at $11.96 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $11.31 and a 200 day moving average price of $10.91. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The firm has a market capitalization of $7.98 billion, a P/E ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.60.

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 analysts’ consensus estimates 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 firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Sell-side analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 presently -2.15%.

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.