Paramount Global (NASDAQ:PARA) Shares Bought by Vestcor Inc

Vestcor Inc lifted its stake in shares of Paramount Global (NASDAQ:PARAFree Report) by 1,475.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 144,725 shares of the company’s stock after buying an additional 135,536 shares during the quarter. Vestcor Inc’s holdings in Paramount Global were worth $1,537,000 at the end of the most recent reporting period.

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

Paramount Global Trading Down 0.1 %

NASDAQ:PARA opened at $11.19 on Thursday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $16.83. 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 stock’s 50 day simple moving average is $10.77 and its 200-day simple moving average is $10.86. The firm has a market cap of $7.46 billion, a P/E ratio of -1.36, a PEG ratio of 1.33 and a beta of 1.71.

Paramount Global (NASDAQ:PARAGet Free Report) last announced its quarterly earnings data 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. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.94 billion. During the same period in the previous year, the company posted $0.30 EPS. Paramount Global’s revenue was down 5.6% compared to the same quarter last year. Equities analysts anticipate that Paramount Global will post 1.86 EPS for the current year.

Paramount Global Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 1.79%. Paramount Global’s payout ratio is currently -2.43%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Guggenheim lowered their price objective on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reissued an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their price target on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Thursday, August 15th. Seven equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.43.

Get Our Latest Stock Report on PARA

Paramount Global Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Paramount Global (NASDAQ:PARA)

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