Grantham Mayo Van Otterloo & Co. LLC Sells 40,455 Shares of Paramount Global (NASDAQ:PARA)

Grantham Mayo Van Otterloo & Co. LLC trimmed its holdings in shares of Paramount Global (NASDAQ:PARA) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,645,467 shares of the company’s stock after selling 40,455 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Paramount Global were worth $17,212,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Allworth Financial LP grew its holdings in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after acquiring an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Paramount Global during the fourth quarter worth $31,000. Rakuten Securities Inc. increased its holdings in Paramount Global by 187.8% in the fourth 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. Atlas Capital Advisors Inc. acquired a new position in Paramount Global in the fourth quarter valued at about $35,000. Finally, Resona Asset Management Co. Ltd. bought a new position in Paramount Global during the fourth quarter worth about $36,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PARA shares. Deutsche Bank Aktiengesellschaft cut Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Wednesday. Guggenheim reiterated a “buy” rating and issued a $14.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a 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 company an “underweight” rating in a research report on Tuesday, February 4th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Paramount Global currently has an average rating of “Hold” and an average price target of $12.09.

Paramount Global Stock Down 3.6 %

NASDAQ:PARA opened at $11.07 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $10.93. The company has a market cap of $7.38 billion, a PE ratio of -1.35, a PEG ratio of 1.68 and a beta of 1.31. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. On average, sell-side analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is currently -2.15%.

About Paramount Global

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.