Prudential Financial Inc. Has $3.37 Million Holdings in Paramount Global (NASDAQ:PARA)

Prudential Financial Inc. reduced its position in Paramount Global (NASDAQ:PARA) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 314,486 shares of the company’s stock after selling 36,141 shares during the period. Prudential Financial Inc.’s holdings in Paramount Global were worth $3,371,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its holdings in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global in the 4th quarter valued at about $31,000. Rakuten Securities Inc. boosted its stake in Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after purchasing an additional 2,019 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Paramount Global during the 4th quarter worth approximately $57,000. Finally, FNY Investment Advisers LLC raised its stake in shares of Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after purchasing an additional 3,654 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PARA shares. StockNews.com initiated coverage on Paramount Global in a report on Sunday. They set a “hold” rating for the company. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Guggenheim restated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $12.10.

Paramount Global Stock Performance

NASDAQ PARA opened at $11.73 on Wednesday. The firm has a market cap of $7.82 billion, a P/E ratio of -1.43, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. 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 company’s 50 day moving average is $11.34 and its 200-day moving average is $10.92. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54.

Paramount Global (NASDAQ:PARA) last issued its 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 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. Sell-side analysts predict that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global’s payout ratio 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.