Swedbank AB Reduces Stake in Paramount Global (NASDAQ:PARA)

Swedbank AB decreased its stake in shares of Paramount Global (NASDAQ:PARAFree Report) by 8.4% during the third quarter, HoldingsChannel.com reports. The firm owned 117,304 shares of the company’s stock after selling 10,812 shares during the period. Swedbank AB’s holdings in Paramount Global were worth $1,246,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PARA. Great Valley Advisor Group Inc. raised its holdings in shares of Paramount Global by 9.3% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 21,786 shares of the company’s stock valued at $231,000 after acquiring an additional 1,846 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Paramount Global by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after acquiring an additional 1,030,592 shares in the last quarter. Landscape Capital Management L.L.C. raised its holdings in shares of Paramount Global by 200.1% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 194,166 shares of the company’s stock valued at $2,062,000 after acquiring an additional 129,470 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Paramount Global in the 3rd quarter valued at about $117,000. Finally, Commerce Bank raised its holdings in shares of Paramount Global by 18.0% in the 3rd quarter. Commerce Bank now owns 13,972 shares of the company’s stock valued at $148,000 after acquiring an additional 2,133 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

PARA opened at $10.77 on Thursday. The stock’s 50 day simple moving average is $10.68 and its 200 day simple moving average is $10.95. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of -1.31, a PEG ratio of 1.34 and a beta of 1.74.

Paramount Global (NASDAQ:PARAGet Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter last year, the business posted $0.30 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.86%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is currently -2.43%.

Analyst Ratings Changes

Several analysts have weighed in on PARA shares. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Guggenheim reduced their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research report on Friday, August 9th. Eight equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.40.

Check Out Our Latest Report on Paramount Global

Paramount Global Company Profile

(Free Report)

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 ChilevisiĆ³n; 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.

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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