Swiss National Bank Purchases 197,300 Shares of Paramount Global (NASDAQ:PARA)

Swiss National Bank grew its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 12.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,765,188 shares of the company's stock after acquiring an additional 197,300 shares during the period. Swiss National Bank owned about 0.26% of Paramount Global worth $18,746,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Great Valley Advisor Group Inc. boosted its stake in Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company's stock valued at $207,000 after purchasing an additional 1,002 shares during the last quarter. Carson Advisory Inc. boosted its stake in Paramount Global by 1.9% during the 3rd quarter. Carson Advisory Inc. now owns 54,364 shares of the company's stock valued at $577,000 after purchasing an additional 1,004 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in Paramount Global by 13.2% during the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company's stock valued at $90,000 after purchasing an additional 1,011 shares during the last quarter. GAMMA Investing LLC boosted its stake in Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company's stock valued at $60,000 after purchasing an additional 1,067 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Paramount Global by 8.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company's stock valued at $181,000 after purchasing an additional 1,356 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Macquarie reiterated an "underperform" rating and set a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. Wells Fargo & Company raised Paramount Global from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. JPMorgan Chase & Co. lowered 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 lowered their price target on Paramount Global from $19.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, September 25th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a report on Monday, November 11th. Eight equities 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.40.

Paramount Global Price Performance

NASDAQ:PARA traded down $0.21 on Friday, reaching $10.88. 11,203,319 shares of the company's stock traded hands, compared to its average volume of 14,786,879. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock has a 50-day simple moving average of $10.66 and a 200-day simple moving average of $11.01. The firm has a market cap of $7.26 billion, a PE ratio of -1.32, a P/E/G ratio of 1.25 and a beta of 1.74. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.25. The firm had revenue of $6.73 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 earnings per share. Equities research analysts forecast that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.84%. Paramount Global's dividend payout ratio is currently -2.43%.

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.