Livforsakringsbolaget Skandia Omsesidigt Buys 4,100 Shares of Paramount Global (NASDAQ:PARA)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Paramount Global (NASDAQ:PARA) by 518.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,891 shares of the company’s stock after buying an additional 4,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Paramount Global were worth $52,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PARA. ProShare Advisors LLC increased its stake in shares of Paramount Global by 146.5% in the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after buying an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Paramount Global by 5.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock valued at $7,998,000 after acquiring an additional 34,541 shares in the last quarter. Financial Counselors Inc. increased its position in Paramount Global by 6.9% in the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after acquiring an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Paramount Global by 33.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock worth $4,790,000 after purchasing an additional 103,103 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of Paramount Global by 798.0% during the second quarter. Canada Pension Plan Investment Board now owns 684,300 shares of the company’s stock worth $7,110,000 after purchasing an additional 608,100 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Stock Performance

Shares of Paramount Global stock opened at $10.52 on Thursday. 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 firm has a market cap of $7.01 billion, a price-to-earnings ratio of -1.35, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. Paramount Global has a one year low of $9.54 and a one year high of $17.50. The stock’s 50-day moving average is $10.54 and its 200-day moving average is $11.21.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. Equities analysts predict that Paramount Global will post 1.56 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.90%. Paramount Global’s payout ratio is currently -2.57%.

Analyst Ratings Changes

PARA has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Guggenheim lowered their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Evercore ISI cut their target price 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. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Finally, StockNews.com lowered shares of Paramount Global from a “hold” rating to a “sell” rating in a report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.33.

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.