State of Alaska Department of Revenue Buys 15,320 Shares of Paramount Global (NASDAQ:PARA)

State of Alaska Department of Revenue increased its holdings in Paramount Global (NASDAQ:PARA) by 28.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,076 shares of the company’s stock after purchasing an additional 15,320 shares during the period. State of Alaska Department of Revenue’s holdings in Paramount Global were worth $733,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PARA. ProShare Advisors LLC increased its holdings in shares of Paramount Global by 146.5% during the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock worth $1,787,000 after buying an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Paramount Global by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after buying an additional 34,541 shares in the last quarter. Financial Counselors Inc. increased its holdings in shares of Paramount Global by 6.9% during the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock worth $8,980,000 after buying an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings 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 buying an additional 103,103 shares in the last quarter. Finally, Hoertkorn Richard Charles increased its holdings in shares of Paramount Global by 38.1% during the third quarter. Hoertkorn Richard Charles now owns 221,696 shares of the company’s stock worth $2,354,000 after buying an additional 61,191 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Up 2.6 %

Shares of NASDAQ PARA opened at $11.38 on Thursday. The company’s fifty day moving average is $10.48 and its 200-day moving average is $11.12. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of -1.46, a P/E/G ratio of 1.63 and a beta of 1.74. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARA) last announced 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 negative net margin of 17.62% and a positive return on equity of 4.88%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.21 billion. Equities research analysts predict that Paramount Global will post 1.61 EPS for the current 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 is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 1.76%. Paramount Global’s payout ratio is currently -2.57%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PARA. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. StockNews.com cut shares of Paramount Global from a “hold” rating to a “sell” rating in a research note on Thursday, October 3rd. Guggenheim decreased their price target 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. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a research note on Friday, August 9th. Finally, Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. Eight investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.57.

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.