Swiss National Bank Lowers Stock Position in Paramount Global (NASDAQ:PARA)

Swiss National Bank decreased its holdings in Paramount Global (NASDAQ:PARA) by 33.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,169,488 shares of the company’s stock after selling 595,700 shares during the quarter. Swiss National Bank owned about 0.18% of Paramount Global worth $12,233,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Allworth Financial LP grew its holdings in shares of Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares during the last quarter. Huntington National Bank grew its stake in shares of Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after purchasing an additional 1,561 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Paramount Global by 187.8% in the fourth quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock valued at $32,000 after purchasing an additional 2,019 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Paramount Global during the fourth quarter worth approximately $57,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock worth $75,000 after purchasing an additional 3,654 shares during the period. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research 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 research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Paramount Global has an average rating of “Hold” and an average target price of $12.10.

Paramount Global Stock Performance

Shares of PARA opened at $11.74 on Thursday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The stock has a market cap of $7.83 billion, a P/E ratio of -1.43, a PEG ratio of 1.68 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $11.10 and a two-hundred day moving average of $10.82.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, research analysts predict that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is currently -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.