Paramount Global (NASDAQ:PARA) Holdings Trimmed by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its holdings in Paramount Global (NASDAQ:PARA) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 214,911 shares of the company’s stock after selling 10,706 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Paramount Global were worth $2,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. Bridgewater Associates LP increased its holdings in shares of Paramount Global by 50.7% in the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after buying an additional 110,357 shares in the last quarter. Financial Counselors Inc. lifted its position in shares of Paramount Global by 6.9% during the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after acquiring an additional 56,021 shares during the last quarter. HBK Investments L P bought a new stake in shares of Paramount Global during the 3rd quarter worth $5,098,000. Finally, Hoertkorn Richard Charles grew its holdings in shares of Paramount Global by 38.1% in the 3rd quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock worth $2,354,000 after acquiring an additional 61,191 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Price Performance

PARA opened at $10.81 on Wednesday. The stock has a fifty day moving average price of $10.82 and a 200 day moving average price of $10.83. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 1 year low of $9.54 and a 1 year high of $16.30. The stock has a market cap of $7.21 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 1.35 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same period in the previous year, the company earned $0.30 EPS. The firm’s revenue was down 5.6% on a year-over-year basis. Analysts forecast that Paramount Global will post 1.86 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm 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 $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.85%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is -2.43%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PARA. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reissued an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Guggenheim lowered their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Seven 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.43.

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.