Swedbank AB Has $1.25 Million Stake in Paramount Global (NASDAQ:PARA)

Swedbank AB trimmed its position in shares of Paramount Global (NASDAQ:PARA) by 8.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 117,304 shares of the company’s stock after selling 10,812 shares during the quarter. 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 also recently modified their holdings of the company. Great Valley Advisor Group Inc. raised its position in shares of Paramount Global by 9.3% during the third quarter. Great Valley Advisor Group Inc. now owns 21,786 shares of the company’s stock worth $231,000 after purchasing an additional 1,846 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after purchasing an additional 1,030,592 shares during the period. Landscape Capital Management L.L.C. grew its holdings in Paramount Global by 200.1% during the third quarter. Landscape Capital Management L.L.C. now owns 194,166 shares of the company’s stock worth $2,062,000 after buying an additional 129,470 shares in the last quarter. Intech Investment Management LLC bought a new stake in Paramount Global during the third quarter worth $117,000. Finally, Commerce Bank grew its holdings in Paramount Global by 18.0% during the third quarter. Commerce Bank now owns 13,972 shares of the company’s stock worth $148,000 after buying an additional 2,133 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on PARA. Macquarie reiterated an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Guggenheim decreased their price target on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Eight research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.40.

Paramount Global Stock Up 1.2 %

Shares of NASDAQ PARA opened at $10.77 on Thursday. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The business’s fifty day moving average price is $10.68 and its 200-day moving average price is $10.95. The stock has a market capitalization of $7.18 billion, a PE ratio of -1.31, a P/E/G ratio of 1.34 and a beta of 1.74.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. On average, equities research analysts anticipate that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Announces Dividend

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

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.