Nordea Investment Management AB Has $1.10 Million Position in Paramount Global (NASDAQ:PARA)

Nordea Investment Management AB increased its holdings in Paramount Global (NASDAQ:PARA – Get Rating) by 18.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,413 shares of the company’s stock after purchasing an additional 10,250 shares during the period. Nordea Investment Management AB’s holdings in Paramount Global were worth $1,101,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PARA. Vanguard Group Inc. acquired a new position in Paramount Global in the third quarter worth about $1,095,014,000. BlackRock Inc. acquired a new position in Paramount Global in the third quarter worth about $773,643,000. State Street Corp acquired a new position in Paramount Global in the third quarter worth about $633,173,000. Price T Rowe Associates Inc. MD acquired a new position in Paramount Global in the third quarter worth about $204,640,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Paramount Global during the third quarter worth approximately $112,712,000. Institutional investors and hedge funds own 74.13% of the company’s stock.

Analysts Set New Price Targets

PARA has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and set a $31.00 price target on shares of Paramount Global in a research note on Wednesday, February 15th. Macquarie cut shares of Paramount Global from a “neutral” rating to an “underperform” rating and set a $15.00 price objective on the stock. in a research note on Tuesday, January 31st. Evercore ISI reduced their price objective on shares of Paramount Global from $25.00 to $18.00 in a research note on Friday, May 5th. StockNews.com began coverage on shares of Paramount Global in a research note on Thursday, March 16th. They issued a “sell” rating on the stock. Finally, Credit Suisse Group raised their price objective on shares of Paramount Global from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, February 17th. Eleven investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.91.

Paramount Global Stock Performance

Shares of PARA stock opened at $15.02 on Friday. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of -19.26, a PEG ratio of 3.91 and a beta of 1.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.12. The company has a 50-day simple moving average of $20.80 and a 200 day simple moving average of $20.18. Paramount Global has a 52 week low of $14.91 and a 52 week high of $34.50.

Paramount Global (NASDAQ:PARA – Get Rating) last issued its earnings results on Thursday, May 4th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.03). The firm had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.42 billion. Paramount Global had a negative net margin of 1.49% and a positive return on equity of 3.64%. Paramount Global’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. On average, sell-side analysts predict that Paramount Global will post 0.76 earnings per share for the current year.

Paramount Global Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Thursday, June 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, June 14th. Paramount Global’s dividend payout ratio is -25.64%.

Paramount Global Company Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.