AustralianSuper Pty Ltd bought a new position in Paramount Global (NASDAQ:PARA - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 680,049 shares of the company's stock, valued at approximately $7,222,000. AustralianSuper Pty Ltd owned 0.10% of Paramount Global as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company's stock worth $26,000 after purchasing an additional 1,573 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of Paramount Global during the 2nd quarter worth approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new position in Paramount Global during the 2nd quarter valued at $43,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Paramount Global by 518.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company's stock valued at $52,000 after acquiring an additional 4,100 shares during the last quarter. Finally, SageView Advisory Group LLC purchased a new stake in Paramount Global in the first quarter worth $56,000. Institutional investors own 73.00% of the company's stock.
Analyst Ratings Changes
PARA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Paramount Global from $12.00 to $11.00 and set an "underweight" rating for the company in a research note on Thursday, August 15th. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a research note on Friday, August 9th. Benchmark reaffirmed a "buy" rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. StockNews.com downgraded Paramount Global from a "hold" rating to a "sell" rating in a report on Thursday, October 3rd. Finally, Guggenheim lowered their target price on Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Nine research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Paramount Global has an average rating of "Hold" and a consensus target price of $12.33.
Check Out Our Latest Report on Paramount Global
Paramount Global Stock Up 0.4 %
NASDAQ PARA traded up $0.04 on Friday, hitting $10.98. The stock had a trading volume of 6,575,113 shares, compared to its average volume of 15,029,097. The business's fifty day moving average price is $10.47 and its 200 day moving average price is $11.12. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of -1.41, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50.
Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.40. The company had revenue of $6.81 billion during the quarter, compared to analysts' expectations of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. Equities research analysts anticipate that Paramount Global will post 1.61 earnings per share for the current year.
Paramount Global Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, December 16th. Paramount Global's dividend payout ratio is presently -2.57%.
Paramount Global 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 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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