International Assets Investment Management LLC Increases Stake in Paramount Global (NASDAQ:PARA)

International Assets Investment Management LLC boosted its stake in Paramount Global (NASDAQ:PARA - Free Report) by 825.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 440,620 shares of the company's stock after purchasing an additional 393,027 shares during the quarter. International Assets Investment Management LLC owned about 0.07% of Paramount Global worth $4,679,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PARA. Vanguard Group Inc. grew its holdings in shares of Paramount Global by 6.5% in the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company's stock valued at $730,805,000 after purchasing an additional 3,803,928 shares in the last quarter. Lingotto Investment Management LLP grew its stake in shares of Paramount Global by 628.8% in the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company's stock worth $311,046,000 after buying an additional 25,829,185 shares in the last quarter. Ariel Investments LLC increased its holdings in shares of Paramount Global by 16.5% in the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company's stock worth $145,899,000 after buying an additional 1,992,576 shares during the last quarter. Kodai Capital Management LP raised its position in shares of Paramount Global by 9.2% during the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company's stock valued at $73,732,000 after buying an additional 527,897 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Paramount Global by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company's stock valued at $38,698,000 after acquiring an additional 225,191 shares during the last quarter. Institutional investors own 73.00% of the company's stock.

Paramount Global Stock Up 0.4 %

Shares of PARA stock opened at $10.98 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a fifty day simple moving average of $10.47 and a two-hundred day simple moving average of $11.12.

Paramount Global (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.40. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. On average, research analysts expect that Paramount Global will post 1.61 EPS for the current year.

Paramount Global Dividend Announcement

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 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 1.82%. Paramount Global's dividend payout ratio is currently -2.57%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wells Fargo & Company raised Paramount Global from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased 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 dropped their price objective on shares of Paramount Global from $19.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Evercore ISI reduced their target price on shares of Paramount Global from $13.00 to $11.50 and set an "in-line" rating on the stock in a research note on Tuesday, July 9th. Finally, Wolfe Research cut shares of Paramount Global from a "peer perform" rating to an "underperform" rating and set a $10.00 price target for the company. in a research note on Tuesday, July 9th. Nine investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $12.33.

About Paramount Global

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.