New York Life Investment Management LLC Has $1.47 Million Stock Holdings in Paramount Global (NASDAQ:PARA)

New York Life Investment Management LLC lessened its holdings in shares of Paramount Global (NASDAQ:PARA) by 9.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 140,939 shares of the company’s stock after selling 14,070 shares during the period. New York Life Investment Management LLC’s holdings in Paramount Global were worth $1,474,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PARA. Allworth Financial LP grew its holdings in shares of Paramount Global by 140.1% in the 4th 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. Huntington National Bank grew its holdings in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares during the period. Kennebec Savings Bank acquired a new position in shares of Paramount Global in the 3rd quarter valued at $47,000. FNY Investment Advisers LLC grew its holdings in shares of Paramount Global by 102.4% in the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after buying an additional 3,654 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in shares of Paramount Global in the 4th quarter valued at $88,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Down 0.4 %

Shares of NASDAQ:PARA opened at $11.31 on Tuesday. The company’s 50-day moving average price is $10.83 and its two-hundred day moving average price is $10.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The stock has a market capitalization of $7.54 billion, a PE ratio of -1.38, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69.

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

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.77%. Paramount Global’s payout ratio is -2.15%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Morgan Stanley upped their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Benchmark reaffirmed a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a research note 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’s stock. According to data from MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global 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.