abrdn plc Has $13.16 Million Stock Holdings in Paramount Global (NASDAQ:PARA)

abrdn plc boosted its holdings in shares of Paramount Global (NASDAQ:PARA) by 20.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 889,923 shares of the company’s stock after acquiring an additional 149,672 shares during the period. abrdn plc’s holdings in Paramount Global were worth $13,162,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC grew its stake in shares of Paramount Global by 541.7% in the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock worth $10,481,000 after acquiring an additional 598,235 shares in the last quarter. Ariel Investments LLC grew 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 acquiring an additional 1,731,714 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Paramount Global during the third quarter valued at about $1,240,000. Caprock Group LLC grew its position 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 during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Paramount Global by 1,201.5% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock valued at $1,282,000 after buying an additional 78,100 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PARA shares. Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target for the company in a research report on Tuesday, January 9th. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price target on shares of Paramount Global in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Benchmark reduced their price target on shares of Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. Finally, Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Eight research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.79.

Paramount Global Trading Down 3.9 %

Shares of PARA opened at $12.18 on Friday. The firm’s 50 day simple moving average is $11.49 and its 200 day simple moving average is $12.88. The company has a market capitalization of $7.95 billion, a P/E ratio of -11.94, a P/E/G ratio of 0.45 and a beta of 1.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17. Paramount Global has a 1-year low of $10.12 and a 1-year high of $24.00.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. Paramount Global’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the firm posted $0.08 earnings per share. Sell-side analysts forecast that Paramount Global will post 1.2 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

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.