49,028 Shares in Paramount Global (NASDAQ:PARA) Bought by Guardian Investment Management

Guardian Investment Management purchased a new stake in Paramount Global (NASDAQ:PARA) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 49,028 shares of the company’s stock, valued at approximately $521,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Lingotto Investment Management LLP lifted its holdings in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after buying an additional 25,829,185 shares during the last quarter. Vanguard Group Inc. increased its stake in Paramount Global by 6.5% in the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after purchasing an additional 3,803,928 shares during the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in Paramount Global in the first quarter valued at approximately $33,191,000. Jane Street Group LLC lifted its position in shares of Paramount Global by 323.5% during the 1st quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock worth $32,417,000 after buying an additional 2,103,938 shares during the last quarter. Finally, Ariel Investments LLC boosted its holdings in shares of Paramount Global by 16.5% in the 2nd quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after buying an additional 1,992,576 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Friday, August 9th. StockNews.com cut Paramount Global from a “hold” rating to a “sell” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price target on Paramount Global from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Thursday, August 15th. The Goldman Sachs Group initiated coverage on Paramount Global in a report on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price objective for the company. Finally, Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $10.00 to $11.00 in a report on Friday, August 9th. Nine equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.33.

Paramount Global Price Performance

PARA stock traded up $0.01 on Friday, reaching $10.35. 4,382,505 shares of the company’s stock were exchanged, compared to its average volume of 7,235,854. 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. The stock has a fifty day moving average of $10.54 and a 200-day moving average of $11.24. The firm has a market cap of $6.90 billion, a PE ratio of -1.33, a P/E/G ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.21 billion. As a group, equities analysts predict that Paramount Global will post 1.56 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -2.57%.

About Paramount Global

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.