American Century Companies Inc. Has $1.55 Million Holdings in Paramount Global (NASDAQ:PARA)

American Century Companies Inc. grew its stake in shares of Paramount Global (NASDAQ:PARA) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 149,144 shares of the company’s stock after acquiring an additional 1,984 shares during the period. American Century Companies Inc.’s holdings in Paramount Global were worth $1,550,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. New Hampshire Trust lifted its stake in shares of Paramount Global by 6.2% in the first quarter. New Hampshire Trust now owns 15,767 shares of the company’s stock valued at $186,000 after buying an additional 914 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Paramount Global by 3.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 24,682 shares of the company’s stock valued at $291,000 after acquiring an additional 934 shares during the last quarter. Great Valley Advisor Group Inc. increased its position in shares of Paramount Global by 5.3% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock valued at $207,000 after buying an additional 1,002 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in shares of 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 purchasing an additional 1,011 shares during the period. Finally, Personal CFO Solutions LLC lifted its position in Paramount Global by 2.4% in the 4th quarter. Personal CFO Solutions LLC now owns 43,468 shares of the company’s stock valued at $643,000 after acquiring an additional 1,030 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PARA has been the subject of several recent analyst reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $14.00 target price on shares of Paramount Global in a research note on Tuesday, June 4th. Guggenheim reduced their price objective on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. Wolfe Research lowered shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price target for the company. in a research note on Tuesday, July 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Ten equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.18.

Paramount Global Price Performance

Shares of PARA opened at $10.79 on Monday. The firm has a market capitalization of $7.19 billion, a PE ratio of -71.93, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. 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’s fifty day moving average price is $10.71 and its 200-day moving average price is $11.30. Paramount Global has a 1-year low of $9.54 and a 1-year high of $17.50.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data 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 company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. On average, equities research analysts predict that Paramount Global will post 1.57 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 yield of 1.85%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is currently -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.