Mitsubishi UFJ Trust & Banking Corp Trims Position in Paramount Global (NASDAQ:PARA)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Paramount Global (NASDAQ:PARA) by 35.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 574,078 shares of the company’s stock after selling 315,331 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.09% of Paramount Global worth $6,005,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PARA. Prestige Wealth Management Group LLC lifted its position in shares of Paramount Global by 35.9% in the fourth quarter. Prestige Wealth Management Group LLC now owns 12,762 shares of the company’s stock valued at $134,000 after acquiring an additional 3,374 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Paramount Global during the 4th quarter valued at approximately $31,000. Vanguard Group Inc. lifted its holdings in Paramount Global by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company’s stock worth $701,242,000 after purchasing an additional 761,561 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Paramount Global in the 4th quarter worth approximately $1,265,000. Finally, American Century Companies Inc. grew its holdings in Paramount Global by 29.2% during the 4th quarter. American Century Companies Inc. now owns 174,995 shares of the company’s stock valued at $1,830,000 after buying an additional 39,572 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark restated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Guggenheim reiterated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Tuesday, February 4th. Finally, StockNews.com initiated coverage on Paramount Global in a report on Sunday. They set a “hold” rating on the stock. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Paramount Global has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Trading Down 1.0 %

Shares of PARA opened at $11.56 on Monday. The company’s fifty day simple moving average is $11.28 and its 200-day simple moving average is $10.90. The company has a market cap of $7.71 billion, a P/E ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month 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 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 during the quarter, compared to analysts’ expectations of $8.07 billion. As a group, analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.73%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -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.