680,049 Shares in Paramount Global (NASDAQ:PARA) Bought by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd bought a new stake in Paramount Global (NASDAQ:PARA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 680,049 shares of the company’s stock, valued at approximately $7,222,000. AustralianSuper Pty Ltd owned approximately 0.10% of Paramount Global as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Blue Trust Inc. lifted its position in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the period. Atlas Capital Advisors LLC acquired a new position in Paramount Global during the second quarter worth $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in Paramount Global during the second quarter worth $43,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after purchasing an additional 4,100 shares during the last quarter. Finally, SageView Advisory Group LLC acquired a new stake in Paramount Global in the first quarter valued at $56,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on PARA. Evercore ISI decreased their price objective on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price target 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. Wells Fargo & Company raised Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. Guggenheim reduced 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. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.33.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.94 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. 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 firm’s fifty day simple moving average is $10.49 and its 200 day simple moving average is $11.12.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.40. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. As a group, research analysts expect that Paramount Global will post 1.61 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.83%. Paramount Global’s dividend payout ratio is currently -2.57%.

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.