AMF Tjanstepension AB Makes New Investment in Paramount Global (NASDAQ:PARA)

AMF Tjanstepension AB purchased a new position in shares of Paramount Global (NASDAQ:PARA) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 241,457 shares of the company’s stock, valued at approximately $2,527,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PARA. State Street Corp lifted its position in Paramount Global by 18.4% during the 3rd quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after buying an additional 6,848,037 shares in the last quarter. Geode Capital Management LLC lifted its position in Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock worth $157,168,000 after buying an additional 1,606,779 shares in the last quarter. Lingotto Investment Management LLP lifted its position in Paramount Global by 3.7% during the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company’s stock worth $468,120,000 after buying an additional 1,593,579 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Paramount Global by 16.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after buying an additional 1,030,592 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Paramount Global by 24.7% during the 4th quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company’s stock worth $47,973,000 after buying an additional 908,515 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PARA shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley lifted their price target on Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a report on Tuesday, February 4th. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Macquarie restated an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Paramount Global presently has a consensus rating of “Hold” and an average price target of $12.10.

Paramount Global Stock Up 3.2 %

PARA stock opened at $12.14 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of -1.48, a PEG ratio of 1.68 and a beta of 1.60. The business’s fifty day moving average price is $10.94 and its two-hundred day moving average price is $10.78. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The firm had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, equities analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is -2.15%.

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.