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% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in Paramount Global by 798.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 684,300 shares of the company’s stock worth $7,110,000 after acquiring an additional 608,100 shares during the last quarter. Altrius Capital Management Inc lifted its stake in Paramount Global by 9.3% in the second quarter. Altrius Capital Management Inc now owns 338,796 shares of the company’s stock valued at $3,520,000 after buying an additional 28,688 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Paramount Global by 14.2% in the second quarter. Hsbc Holdings PLC now owns 1,150,389 shares of the company’s stock valued at $11,901,000 after buying an additional 143,056 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its stake in Paramount Global by 7.2% in the second quarter. Elo Mutual Pension Insurance Co now owns 47,855 shares of the company’s stock valued at $497,000 after buying an additional 3,214 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in Paramount Global by 42.7% in the second quarter. Blair William & Co. IL now owns 66,846 shares of the company’s stock valued at $695,000 after buying an additional 20,008 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Up 0.1 %

PARA stock opened at $10.38 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. The company has a fifty day moving average price of $10.80 and a two-hundred day moving average price of $11.33. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of -69.20, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Equities analysts anticipate that Paramount Global will post 1.57 EPS for the current year.

Paramount Global Announces Dividend

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

Wall Street Analyst Weigh In

PARA has been the topic of a number of research reports. Wolfe Research lowered 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. Evercore ISI cut their price target on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. The Goldman Sachs Group began coverage on shares of Paramount Global in a research note on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price target on the stock. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Eleven investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and an average target price of $12.47.

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.