Paramount Global (NASDAQ:PARA) Holdings Trimmed by Swiss National Bank

Swiss National Bank reduced its position in shares of Paramount Global (NASDAQ:PARA) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,152,688 shares of the company’s stock after selling 16,800 shares during the quarter. Swiss National Bank’s holdings in Paramount Global were worth $13,786,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Paramount Global by 8.0% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,259 shares of the company’s stock valued at $147,000 after purchasing an additional 907 shares in the last quarter. Ossiam grew its holdings in shares of Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after acquiring an additional 1,022 shares in the last quarter. Mitchell & Pahl Private Wealth LLC increased its stake in shares of Paramount Global by 2.3% in the first quarter. Mitchell & Pahl Private Wealth LLC now owns 51,913 shares of the company’s stock worth $621,000 after acquiring an additional 1,143 shares during the last quarter. SOL Capital Management CO increased its stake in shares of Paramount Global by 0.7% in the first quarter. SOL Capital Management CO now owns 181,874 shares of the company’s stock worth $2,175,000 after acquiring an additional 1,270 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Paramount Global by 4.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 33,372 shares of the company’s stock worth $391,000 after acquiring an additional 1,359 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

PARA has been the topic of several research reports. Loop Capital upped their target price on Paramount Global from $10.00 to $11.00 and gave the stock a “sell” rating in a research report on Friday, July 25th. Guggenheim reissued a “buy” rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, June 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Tuesday, July 22nd. Wells Fargo & Company reduced their target price on shares of Paramount Global from $12.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, August 1st. Finally, Citigroup restated a “neutral” rating and set a $12.00 price target (down previously from $13.00) on shares of Paramount Global in a research note on Thursday, May 29th. Seven investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average target price of $11.70.

Paramount Global Stock Performance

NASDAQ:PARA opened at $11.04 on Friday. The company’s 50 day moving average is $12.39 and its 200-day moving average is $11.77. The company has a quick ratio of 1.21, a current ratio of 1.39 and a debt-to-equity ratio of 0.83. Paramount Global has a 12 month low of $9.95 and a 12 month high of $13.59. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of -367.88, a P/E/G ratio of 3.07 and a beta of 1.17.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.09. The business had revenue of $6.85 billion for the quarter, compared to analyst estimates of $6.88 billion. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.51%. Paramount Global’s revenue was up .5% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. Equities analysts anticipate that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global’s payout ratio is currently -666.67%.

Paramount Global Company 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.