Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in Paramount Global (NASDAQ:PARA)

Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of Paramount Global (NASDAQ:PARA) by 35.5% during the 4th quarter, HoldingsChannel reports. The firm owned 574,078 shares of the company’s stock after selling 315,331 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Paramount Global were worth $6,005,000 at the end of the most recent quarter.

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

Paramount Global Stock Performance

Shares of PARA stock opened at $11.56 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business has a fifty day moving average of $11.28 and a 200 day moving average of $10.90. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54.

Paramount Global (NASDAQ:PARA) last released its earnings results on Wednesday, February 26th. The company reported ($0.11) 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. As a group, research analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.73%. Paramount Global’s payout ratio is currently -2.15%.

Wall Street Analysts Forecast Growth

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

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.