Paramount Global (NASDAQ:PARA) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in Paramount Global (NASDAQ:PARA) by 47.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,100 shares of the company’s stock after selling 84,194 shares during the period. Handelsbanken Fonder AB’s holdings in Paramount Global were worth $1,362,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PARA. VisionPoint Advisory Group LLC acquired a new position in shares of Paramount Global during the 3rd quarter worth approximately $25,000. Archer Investment Corp acquired a new position in shares of Paramount Global during the 4th quarter worth approximately $30,000. Anchor Investment Management LLC acquired a new position in shares of Paramount Global during the 4th quarter worth approximately $30,000. WFA of San Diego LLC boosted its holdings in shares of Paramount Global by 635.0% during the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after purchasing an additional 2,286 shares during the last quarter. Finally, Friedenthal Financial acquired a new position in shares of Paramount Global during the 4th quarter worth approximately $39,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PARA has been the topic of several recent research reports. Benchmark lowered their target price on Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Finally, Redburn Atlantic cut Paramount Global from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $17.00 to $11.00 in a report on Thursday, January 11th. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.79.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $11.91 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Paramount Global has a 12-month low of $10.12 and a 12-month high of $24.00. The business’s fifty day simple moving average is $11.48 and its 200-day simple moving average is $12.87.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.09. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period last year, the firm earned $0.08 earnings per share. As a group, equities research analysts expect that Paramount Global will post 1.19 EPS for the current year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s payout ratio is currently -19.61%.

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.