Bank Pictet & Cie Europe AG Has $15.59 Million Holdings in Paramount Global (NASDAQ:PARA)

Bank Pictet & Cie Europe AG boosted its stake in Paramount Global (NASDAQ:PARA - Free Report) by 59.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,500,000 shares of the company's stock after purchasing an additional 562,000 shares during the quarter. Bank Pictet & Cie Europe AG owned about 0.23% of Paramount Global worth $15,585,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PARA. Newbridge Financial Services Group Inc. acquired a new stake in Paramount Global in the fourth quarter worth $44,000. SageView Advisory Group LLC acquired a new stake in Paramount Global in the first quarter worth $56,000. Harvest Fund Management Co. Ltd acquired a new stake in Paramount Global in the fourth quarter worth $59,000. GAMMA Investing LLC grew its holdings in shares of Paramount Global by 22.8% during the second quarter. GAMMA Investing LLC now owns 5,742 shares of the company's stock valued at $60,000 after buying an additional 1,067 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Paramount Global by 102.1% during the fourth quarter. Lindbrook Capital LLC now owns 4,308 shares of the company's stock valued at $64,000 after buying an additional 2,176 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Price Performance

NASDAQ:PARA traded up $0.18 during mid-day trading on Friday, hitting $11.36. 7,642,319 shares of the stock traded hands, compared to its average volume of 17,307,654. The business's 50-day moving average price is $10.92 and its 200 day moving average price is $11.54. The company has a market cap of $7.57 billion, a PE ratio of -75.73, a price-to-earnings-growth ratio of 0.61 and a beta of 1.78. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.76%. Paramount Global's dividend payout ratio is presently -133.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Benchmark reiterated a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Seaport Res Ptn cut shares of Paramount Global from a "buy" rating to a "neutral" rating in a report on Thursday, May 2nd. Wells Fargo & Company upgraded shares of Paramount Global from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $10.00 to $11.00 in a report on Friday, August 9th. Argus cut shares of Paramount Global from a "hold" rating to a "sell" rating in a report on Friday, May 3rd. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $14.00 price objective on shares of Paramount Global in a report on Tuesday, June 4th. Eleven analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Paramount Global presently has a consensus rating of "Hold" and a consensus target price of $12.47.

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.

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