Swiss National Bank Sells 595,700 Shares of Paramount Global (NASDAQ:PARA)

Swiss National Bank cut its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 33.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,169,488 shares of the company's stock after selling 595,700 shares during the quarter. Swiss National Bank owned approximately 0.18% of Paramount Global worth $12,233,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Paramount Global by 22.3% during the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company's stock worth $7,258,000 after buying an additional 124,740 shares in the last quarter. Huntington National Bank increased its holdings 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 in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Paramount Global during the third quarter worth approximately $135,000. CIBC Asset Management Inc increased its holdings in shares of Paramount Global by 24.0% during the third quarter. CIBC Asset Management Inc now owns 83,043 shares of the company's stock worth $882,000 after buying an additional 16,077 shares in the last quarter. Finally, Kentucky Retirement Systems increased its holdings in shares of Paramount Global by 11.2% during the third quarter. Kentucky Retirement Systems now owns 41,431 shares of the company's stock worth $440,000 after buying an additional 4,178 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company's stock.

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Analyst Ratings Changes

PARA has been the subject of several recent analyst reports. Benchmark reaffirmed a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com started coverage on shares of Paramount Global in a report on Saturday. They set a "hold" rating for the company. Morgan Stanley raised their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Needham & Company LLC reissued a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Guggenheim reissued a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Six equities 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 stock. According to data from MarketBeat, Paramount Global presently has a consensus rating of "Hold" and a consensus price target of $12.10.

Paramount Global Trading Down 0.6 %

PARA traded down $0.07 during trading on Friday, reaching $11.86. 14,225,491 shares of the company's stock were exchanged, compared to its average volume of 12,314,480. The company's fifty day moving average price is $11.16 and its 200-day moving average price is $10.84. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The firm has a market capitalization of $7.91 billion, a PE ratio of -1.44, a P/E/G ratio of 1.68 and a beta of 1.60.

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

Paramount Global Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.69%. Paramount Global's dividend payout ratio is -2.15%.

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.