Swiss National Bank Cuts Stock Holdings in Paramount Global (NASDAQ:PARA)

Swiss National Bank lessened its position in Paramount Global (NASDAQ:PARA) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,522,888 shares of the company’s stock after selling 43,900 shares during the quarter. Swiss National Bank owned about 0.23% of Paramount Global worth $22,524,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in Paramount Global by 541.7% in the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock valued at $10,481,000 after purchasing an additional 598,235 shares in the last quarter. Ariel Investments LLC boosted its position in Paramount Global by 18.0% during the third 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 during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Paramount Global during the 3rd quarter valued at about $1,240,000. Caprock Group LLC raised its holdings in Paramount Global by 2.9% in the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock valued at $746,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Paramount Global by 1,201.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock worth $1,282,000 after purchasing an additional 78,100 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PARA. Seaport Res Ptn lowered Paramount Global from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd. Redburn Atlantic downgraded Paramount Global from a “neutral” rating to a “sell” rating and cut their target price for the stock from $17.00 to $11.00 in a research note on Thursday, January 11th. Argus cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Rosenblatt Securities restated a “neutral” rating and set a $13.00 price objective on shares of Paramount Global in a research report on Tuesday, April 9th. Finally, Needham & Company LLC lowered shares of Paramount Global from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Nine research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.58.

Paramount Global Trading Down 0.5 %

NASDAQ PARA opened at $12.82 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of -85.47, a PEG ratio of 0.39 and a beta of 1.74. The firm has a 50 day simple moving average of $11.67 and a 200-day simple moving average of $12.91. Paramount Global has a one year low of $10.12 and a one year high of $17.50.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate 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 company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter last year, the company posted $0.09 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. Equities research analysts anticipate that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. 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 -133.33%.

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.