Banque Cantonale Vaudoise lifted its position in shares of Paramount Global (NASDAQ:PARA – Free Report) by 82.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,498 shares of the company’s stock after purchasing an additional 25,600 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Paramount Global were worth $899,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC grew its stake in shares of Paramount Global by 130.0% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the company’s stock worth $27,000 after purchasing an additional 685 shares during the period. Pacific Center for Financial Services purchased a new position in Paramount Global in the 1st quarter valued at $35,000. Horrell Capital Management Inc. lifted its holdings in Paramount Global by 61.3% in the 1st quarter. Horrell Capital Management Inc. now owns 1,613 shares of the company’s stock valued at $36,000 after purchasing an additional 613 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Paramount Global in the 1st quarter valued at $36,000. Finally, Ellevest Inc. lifted its holdings in Paramount Global by 65.3% in the 1st quarter. Ellevest Inc. now owns 1,701 shares of the company’s stock valued at $38,000 after purchasing an additional 672 shares in the last quarter. Institutional investors and hedge funds own 72.39% of the company’s stock.
Analysts Set New Price Targets
PARA has been the topic of several analyst reports. Raymond James initiated coverage on Paramount Global in a report on Monday, September 18th. They set a “market perform” rating on the stock. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 6th. TheStreet lowered Paramount Global from a “c-” rating to a “d+” rating in a report on Friday, October 27th. Sanford C. Bernstein assumed coverage on Paramount Global in a report on Thursday, October 5th. They set an “underperform” rating and a $11.00 price target on the stock. Finally, Morgan Stanley cut their price objective on Paramount Global from $15.00 to $9.00 and set an “underweight” rating for the company in a research report on Wednesday, November 1st. Nine investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $15.72.
Paramount Global Stock Performance
NASDAQ PARA opened at $13.17 on Thursday. The company has a market cap of $8.58 billion, a P/E ratio of -7.40, a P/E/G ratio of 3.10 and a beta of 1.76. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.26 and a quick ratio of 1.09. The stock has a 50-day moving average of $12.35 and a two-hundred day moving average of $14.59. Paramount Global has a 1-year low of $10.51 and a 1-year high of $25.93.
Paramount Global Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Thursday, December 14th. Paramount Global’s dividend payout ratio is currently -11.24%.
Paramount Global Company Profile
Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.
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