National Bank of Canada FI Buys 142,267 Shares of Paramount Global (NASDAQ:PARA)

National Bank of Canada FI boosted its stake in shares of Paramount Global (NASDAQ:PARA) by 401.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,677 shares of the company’s stock after purchasing an additional 142,267 shares during the quarter. National Bank of Canada FI’s holdings in Paramount Global were worth $1,859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PARA. Charles Schwab Investment Management Inc. lifted its position in shares of Paramount Global by 4.7% during the 4th 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 during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Paramount Global by 824.1% during the third 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 last quarter. Wilsey Asset Management Inc. boosted its position in shares of Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after acquiring an additional 265,408 shares during the period. Bank of New York Mellon Corp increased its position 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 worth $47,973,000 after acquiring an additional 908,515 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Paramount Global by 22.3% during the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock valued at $7,258,000 after purchasing an additional 124,740 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PARA. 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. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reaffirmed a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research report on Wednesday, April 2nd. 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 company’s stock. Based on data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and a consensus price target of $12.09.

Paramount Global Stock Down 1.9 %

Shares of NASDAQ PARA opened at $10.65 on Wednesday. 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 market capitalization of $7.10 billion, a PE ratio of -1.30, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. The firm’s 50-day moving average is $11.36 and its 200-day moving average is $10.94. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Equities analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were given a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.88%. Paramount Global’s dividend payout ratio is -2.15%.

About Paramount Global

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.