Paramount Global (NASDAQ:PARA) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in Paramount Global (NASDAQ:PARA) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,700 shares of the company’s stock after acquiring an additional 10,300 shares during the period. Handelsbanken Fonder AB’s holdings in Paramount Global were worth $1,493,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its holdings 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 lifted its holdings in Paramount Global by 50.7% during the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after purchasing an additional 110,357 shares during the last quarter. Franklin Resources Inc. raised its position in Paramount Global by 824.1% in the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 174,514 shares during the last quarter. Wilsey Asset Management Inc. lifted its stake in shares of Paramount Global by 16.2% during the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after acquiring an additional 265,408 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Paramount Global by 22.3% in the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock valued at $7,258,000 after buying an additional 124,740 shares during the period. 73.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PARA. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Macquarie reissued an “underperform” rating and set a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their price objective on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.58.

Paramount Global Price Performance

PARA stock opened at $11.22 on Thursday. The company’s fifty day moving average price is $10.78 and its 200-day moving average price is $10.73. Paramount Global has a one year low of $9.54 and a one year high of $14.54. The company has a market capitalization of $7.48 billion, a PE ratio of -1.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. 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 (NASDAQ:PARA) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate 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 positive return on equity of 5.81% and a negative net margin of 18.89%. On average, equities analysts anticipate that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.78%. Paramount Global’s 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.