Grantham Mayo Van Otterloo & Co. LLC Has $17.21 Million Holdings in Paramount Global (NASDAQ:PARA)

Grantham Mayo Van Otterloo & Co. LLC trimmed its stake in Paramount Global (NASDAQ:PARA) by 2.4% during the 4th quarter, according to its most recent 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 owned about 0.25% of Paramount Global worth $17,212,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Resona Asset Management Co. Ltd. acquired a new stake in Paramount Global during the fourth quarter worth about $36,000. Yoffe Investment Management LLC bought a new stake in shares of Paramount Global in the 4th quarter worth approximately $116,000. Atlas Capital Advisors Inc. acquired a new stake in shares of Paramount Global during the 4th quarter worth approximately $35,000. Pitcairn Co. bought a new stake in shares of Paramount Global during the fourth quarter valued at approximately $185,000. Finally, Geode Capital Management LLC raised its stake in shares of Paramount Global by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company’s stock valued at $162,731,000 after purchasing an additional 724,565 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Analyst Ratings Changes

PARA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft downgraded shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a research note on Wednesday. StockNews.com initiated coverage on shares of Paramount Global in a research note on Sunday, March 30th. They issued a “hold” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Paramount Global has a consensus rating of “Hold” and a consensus price target of $12.09.

Paramount Global Stock Performance

Paramount Global stock opened at $11.07 on Friday. The stock has a 50-day simple moving average of $11.38 and a 200 day simple moving average of $10.93. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of -1.35, a P/E/G ratio of 1.68 and a beta of 1.31. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54.

Paramount Global (NASDAQ:PARA) last announced its 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 positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. On average, research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 1.81%. The ex-dividend date was Monday, March 17th. Paramount Global’s dividend payout ratio is -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.