Paramount Global (NASDAQ:PARA) Shares Sold by Swiss National Bank

Swiss National Bank reduced its stake in Paramount Global (NASDAQ:PARA) by 2.8% in the fourth quarter, HoldingsChannel reports. The fund owned 1,522,888 shares of the company’s stock after selling 43,900 shares during the quarter. Swiss National Bank’s holdings in Paramount Global were worth $22,524,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Paramount Global by 541.7% in the fourth quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock worth $10,481,000 after purchasing an additional 598,235 shares during the period. Ariel Investments LLC raised its stake in shares of Paramount Global by 18.0% in the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock worth $146,168,000 after buying an additional 1,731,714 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Paramount Global in the third quarter valued at $1,240,000. Caprock Group LLC boosted its stake in Paramount Global by 2.9% during the fourth quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock valued at $746,000 after buying an additional 1,401 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Paramount Global by 1,201.5% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock worth $1,282,000 after acquiring an additional 78,100 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.

Paramount Global Price Performance

NASDAQ PARA opened at $12.82 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $8.54 billion, a PE ratio of -85.47, a price-to-earnings-growth ratio of 0.39 and a beta of 1.74. Paramount Global has a 12-month low of $10.12 and a 12-month high of $17.50. The company has a 50 day moving average price of $11.67 and a two-hundred day moving average price of $12.91.

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. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the prior year, the company posted $0.09 earnings per share. Paramount Global’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, equities analysts predict that Paramount Global will post 1.32 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.56%. Paramount Global’s dividend payout ratio (DPR) is currently -133.33%.

Analysts Set New Price Targets

PARA has been the topic of several research reports. Needham & Company LLC cut Paramount Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Seaport Res Ptn cut Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Tuesday, February 27th. Nine analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and a consensus target price of $13.58.

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.