Paramount Global (NASDAQ:PARA) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its position in shares of Paramount Global (NASDAQ:PARA) by 14.4% during the third quarter, Holdings Channel.com reports. The firm owned 231,127 shares of the company’s stock after acquiring an additional 29,057 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Paramount Global were worth $2,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Paramount Global Stock Down 2.5 %

NASDAQ PARA opened at $11.16 on Thursday. The business’s fifty day simple moving average is $10.58 and its 200-day simple moving average is $11.09. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.44 billion, a PE ratio of -1.36, a P/E/G ratio of 1.44 and a beta of 1.74. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 EPS. As a group, equities analysts anticipate that Paramount Global will post 1.78 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.79%. Paramount Global’s payout ratio is -2.43%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PARA. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Friday, August 9th. Finally, Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a report on Monday. Eight investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.40.

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.