Blair William & Co. IL Boosts Holdings in Paramount Global (NASDAQ:PARA)

Blair William & Co. IL increased its stake in Paramount Global (NASDAQ:PARA) by 42.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,846 shares of the company’s stock after buying an additional 20,008 shares during the period. Blair William & Co. IL’s holdings in Paramount Global were worth $695,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Paramount Global in the 4th quarter worth approximately $41,497,000. Quest Partners LLC purchased a new position in Paramount Global during the fourth quarter valued at $98,000. United Services Automobile Association bought a new stake in shares of Paramount Global during the 4th quarter valued at $201,000. Treasurer of the State of North Carolina grew its position in shares of Paramount Global by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 255,878 shares of the company’s stock worth $3,784,000 after buying an additional 2,500 shares during the period. Finally, Claret Asset Management Corp increased its stake in shares of Paramount Global by 13.3% in the 4th quarter. Claret Asset Management Corp now owns 393,550 shares of the company’s stock worth $5,821,000 after acquiring an additional 46,167 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Stock Performance

Shares of NASDAQ:PARA opened at $10.55 on Thursday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of -70.33, a PEG ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The stock’s 50-day simple moving average is $10.74 and its two-hundred day simple moving average is $11.32.

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

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.90%. Paramount Global’s dividend payout ratio is currently -133.33%.

Analyst Ratings Changes

A number of brokerages have weighed in on PARA. Guggenheim cut their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Paramount Global in a research report on Tuesday, June 4th. JPMorgan Chase & Co. dropped their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Wolfe Research cut shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target on the stock. in a research note on Tuesday, July 9th. Ten research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Paramount Global currently has a consensus rating of “Hold” and a consensus target price of $12.18.

About Paramount Global

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.