Skandinaviska Enskilda Banken AB publ Purchases 5,400 Shares of Paramount Global (NASDAQ:PARA)

Skandinaviska Enskilda Banken AB publ increased its position in shares of Paramount Global (NASDAQ:PARA) by 5.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 104,904 shares of the company’s stock after acquiring an additional 5,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Paramount Global were worth $1,089,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Cape Investment Advisory Inc. lifted its position in Paramount Global by 5.2% during the fourth quarter. Cape Investment Advisory Inc. now owns 18,014 shares of the company’s stock worth $266,000 after purchasing an additional 889 shares during the period. New Hampshire Trust raised its stake in Paramount Global by 6.2% during the first quarter. New Hampshire Trust now owns 15,767 shares of the company’s stock worth $186,000 after acquiring an additional 914 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Paramount Global by 3.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock worth $291,000 after acquiring an additional 934 shares in the last quarter. Great Valley Advisor Group Inc. raised its stake in Paramount Global by 5.3% during the second quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after acquiring an additional 1,002 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its stake in Paramount Global by 13.2% during the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after acquiring an additional 1,011 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a research note on Saturday, September 14th. Wolfe Research downgraded Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price for the company. in a research note on Tuesday, July 9th. Rosenblatt Securities reissued a “neutral” rating and set a $14.00 target price on shares of Paramount Global in a research note on Tuesday, June 4th. JPMorgan Chase & Co. lowered their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Finally, Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $10.00 to $11.00 in a research note on Friday, August 9th. Eleven analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and an average price target of $12.47.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.38 on Tuesday. The company has a market capitalization of $6.92 billion, a PE ratio of -69.20, a P/E/G ratio of 0.57 and a beta of 1.75. The company has a 50 day simple moving average of $10.80 and a two-hundred day simple moving average of $11.33. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

Paramount Global (NASDAQ:PARA) last released its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. Research analysts anticipate that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, September 16th. Paramount Global’s payout ratio is -133.33%.

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.