Paramount Global (NASDAQ:PARA) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP lifted its holdings in shares of Paramount Global (NASDAQ:PARA) by 50.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,099 shares of the company’s stock after buying an additional 110,357 shares during the quarter. Bridgewater Associates LP’s holdings in Paramount Global were worth $3,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares in the last quarter. Huntington National Bank grew its holdings in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares in the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Paramount Global in the 2nd quarter worth $35,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paramount Global during the 2nd quarter worth $43,000. Finally, Kennebec Savings Bank acquired a new position in shares of Paramount Global during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.85 on Friday. The company has a fifty day simple moving average of $10.70 and a two-hundred day simple moving average of $10.93. The company has a market cap of $7.24 billion, a price-to-earnings ratio of -1.32, a price-to-earnings-growth ratio of 1.30 and a beta of 1.74. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. 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 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.94 billion. During the same period in the previous year, the business earned $0.30 earnings per share. Paramount Global’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Paramount Global will post 1.86 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 issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Wall Street Analysts Forecast Growth

PARA has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a report on Friday, August 9th. Macquarie reiterated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. Guggenheim reduced their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Eight 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, the company has a consensus 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.