Fisher Asset Management LLC Buys 10,192 Shares of Paramount Global (NASDAQ:PARA)

Fisher Asset Management LLC grew its stake in Paramount Global (NASDAQ:PARA) by 88.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,723 shares of the company’s stock after purchasing an additional 10,192 shares during the quarter. Fisher Asset Management LLC’s holdings in Paramount Global were worth $231,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PARA. Lingotto Investment Management LLP grew its stake in shares of Paramount Global by 628.8% in the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after acquiring an additional 25,829,185 shares in the last quarter. Ariel Investments LLC grew its stake in shares of Paramount Global by 16.5% in the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after acquiring an additional 1,992,576 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Paramount Global by 602.8% in the second quarter. AQR Capital Management LLC now owns 1,783,489 shares of the company’s stock valued at $18,530,000 after acquiring an additional 1,529,719 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Paramount Global by 16.2% in 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 acquiring an additional 1,030,592 shares in the last quarter. Finally, Shah Capital Management grew its stake in shares of Paramount Global by 1,019.9% in the second quarter. Shah Capital Management now owns 1,121,000 shares of the company’s stock valued at $11,647,000 after acquiring an additional 1,020,900 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PARA. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $10.00 to $11.00 in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Thursday, August 15th. Macquarie reissued an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Guggenheim decreased their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Eight investment analysts have rated the stock with a sell rating, eight have given 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 a consensus target price of $12.40.

Paramount Global Stock Up 0.7 %

NASDAQ:PARA opened at $10.85 on Monday. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The company has a market cap of $7.24 billion, a PE ratio of -1.32, a P/E/G ratio of 1.31 and a beta of 1.74. The firm’s 50 day simple moving average is $10.70 and its 200 day simple moving average is $10.92.

Paramount Global (NASDAQ:PARA) last released 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. The firm had revenue of $6.73 billion during the quarter, compared to the consensus estimate of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 earnings per share. On average, research analysts anticipate that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is currently -2.43%.

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.