Truist Financial Corp Has $314,000 Position in Paramount Global (NASDAQ:PARA)

Truist Financial Corp lessened its position in Paramount Global (NASDAQ:PARA) by 48.3% in the 4th quarter, Holdings Channel reports. The firm owned 30,057 shares of the company’s stock after selling 28,098 shares during the period. Truist Financial Corp’s holdings in Paramount Global were worth $314,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PARA. State Street Corp increased its position in shares of Paramount Global by 18.4% in the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Paramount Global by 12.1% during the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after acquiring an additional 1,606,779 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after acquiring an additional 1,030,592 shares during the period. Wilsey Asset Management Inc. increased its holdings 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 worth $19,898,000 after acquiring an additional 265,408 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Paramount Global by 12.6% during the third quarter. Swiss National Bank now owns 1,765,188 shares of the company’s stock worth $18,746,000 after purchasing an additional 197,300 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Macquarie reissued an “underperform” rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Benchmark reissued a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley boosted their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Six investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.10.

Paramount Global Price Performance

NASDAQ:PARA opened at $11.51 on Thursday. The stock has a market capitalization of $7.68 billion, a PE ratio of -1.40, a P/E/G ratio of 1.68 and a beta of 1.69. Paramount Global has a 1-year low of $9.54 and a 1-year high of $14.54. The firm has a fifty day simple moving average of $10.85 and a 200 day simple moving average of $10.76. 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 (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The firm had revenue of $7.98 billion during 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%. On average, research analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend 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.