Zurcher Kantonalbank Zurich Cantonalbank Has $1.13 Million Position in Paramount Global (NASDAQ:PARA)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Paramount Global (NASDAQ:PARA) by 27.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 106,504 shares of the company’s stock after purchasing an additional 22,650 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Paramount Global were worth $1,131,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PARA. Great Valley Advisor Group Inc. raised its stake in Paramount Global by 5.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 19,940 shares of the company’s stock worth $207,000 after buying an additional 1,002 shares during the period. Carson Advisory Inc. increased its holdings in shares of Paramount Global by 1.9% in the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company’s stock worth $577,000 after acquiring an additional 1,004 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in shares of Paramount Global by 13.2% during the second quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock worth $90,000 after purchasing an additional 1,011 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Paramount Global by 22.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,742 shares of the company’s stock valued at $60,000 after purchasing an additional 1,067 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of Paramount Global by 8.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 17,411 shares of the company’s stock valued at $181,000 after purchasing an additional 1,356 shares during the period. 73.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PARA. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Guggenheim decreased their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Eight research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.40.

Paramount Global Stock Performance

NASDAQ PARA opened at $10.81 on Friday. The firm has a market capitalization of $7.21 billion, a P/E ratio of -1.32, a price-to-earnings-growth ratio of 1.32 and a beta of 1.71. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average price is $10.73 and its two-hundred day moving average price is $10.89. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50.

Paramount Global (NASDAQ:PARA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to the consensus estimate 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 last year, the business posted $0.30 EPS. As a group, research analysts anticipate that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, December 16th. Paramount Global’s payout ratio is presently -2.43%.

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.