AMF Tjanstepension AB Acquires New Stake in Paramount Global (NASDAQ:PARA)

AMF Tjanstepension AB bought a new position in shares of Paramount Global (NASDAQ:PARA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 241,457 shares of the company's stock, valued at approximately $2,527,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP boosted its holdings in shares of Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Huntington National Bank boosted its stake in shares of Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company's stock worth $29,000 after buying an additional 1,561 shares during the period. Kennebec Savings Bank purchased a new position in shares of Paramount Global during the third quarter worth about $47,000. SBI Securities Co. Ltd. acquired a new position in Paramount Global in the 4th quarter valued at about $57,000. Finally, FNY Investment Advisers LLC raised its stake in Paramount Global by 102.4% during the 4th quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company's stock valued at $75,000 after acquiring an additional 3,654 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

PARA traded up $0.11 during trading on Wednesday, reaching $11.58. 8,263,013 shares of the stock were exchanged, compared to its average volume of 9,473,439. Paramount Global has a 1 year low of $9.54 and a 1 year high of $14.54. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of -1.41, a P/E/G ratio of 1.68 and a beta of 1.60. The business's 50 day moving average price is $10.99 and its two-hundred day moving average price is $10.78. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

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Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, equities research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.73%. Paramount Global's dividend payout ratio (DPR) is -2.15%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Guggenheim reiterated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reaffirmed a "buy" rating and issued a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Morgan Stanley lifted their price target on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $12.10.

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.