New York State Common Retirement Fund Has $6.23 Million Position in Paramount Global (NASDAQ:PARA)

New York State Common Retirement Fund decreased its holdings in shares of Paramount Global (NASDAQ:PARA) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 421,403 shares of the company’s stock after selling 62,616 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of Paramount Global worth $6,233,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Highlander Capital Management LLC raised its holdings in shares of Paramount Global by 13.4% in the 4th quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after acquiring an additional 850 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Paramount Global by 0.7% in the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock worth $1,985,000 after purchasing an additional 887 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Paramount Global by 1.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,971 shares of the company’s stock valued at $724,000 after purchasing an additional 897 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Paramount Global by 2.1% during the third quarter. Van ECK Associates Corp now owns 49,536 shares of the company’s stock valued at $639,000 after buying an additional 996 shares during the last quarter. Finally, Forum Financial Management LP grew its holdings in Paramount Global by 6.8% during the third quarter. Forum Financial Management LP now owns 15,610 shares of the company’s stock worth $201,000 after buying an additional 1,000 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Performance

NASDAQ:PARA opened at $12.89 on Friday. Paramount Global has a 1 year low of $10.12 and a 1 year high of $19.04. The stock’s fifty day moving average price is $11.52 and its two-hundred day moving average price is $12.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.17 and a current ratio of 1.29.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.73 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. On average, research analysts anticipate that Paramount Global will post 1.32 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.55%. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

Analyst Ratings Changes

PARA has been the topic of a number of analyst reports. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price objective on the stock in a report on Tuesday, January 9th. Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research report on Tuesday. Argus cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Friday. Needham & Company LLC lowered Paramount Global from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company dropped their price target on Paramount Global from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday. Ten research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.58.

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.