Paramount Global (NASDAQ:PARA) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in shares of Paramount Global (NASDAQ:PARA) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 298,814 shares of the company’s stock after acquiring an additional 10,097 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Paramount Global were worth $4,419,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Paramount Global by 541.7% in the fourth quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock valued at $10,481,000 after acquiring an additional 598,235 shares in the last quarter. Ariel Investments LLC boosted its stake in Paramount Global by 18.0% in the third quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock valued at $146,168,000 after acquiring an additional 1,731,714 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Paramount Global in the third quarter valued at $1,240,000. Caprock Group LLC boosted its stake in Paramount Global by 2.9% in the fourth quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock valued at $746,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Paramount Global by 1,201.5% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock valued at $1,282,000 after acquiring an additional 78,100 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PARA. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $13.00 target price on shares of Paramount Global in a report on Tuesday, April 9th. Moffett Nathanson raised shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target for the company in a report on Tuesday, January 9th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Paramount Global in a report on Thursday, February 29th. Wolfe Research raised shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Eight research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.79.

Paramount Global Stock Performance

Shares of NASDAQ PARA opened at $11.91 on Friday. Paramount Global has a 1 year low of $10.12 and a 1 year high of $24.00. The firm’s 50 day moving average price is $11.48 and its 200 day moving average price is $12.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The firm had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the business earned $0.08 earnings per share. Paramount Global’s revenue was down 6.1% compared to the same quarter last year. Equities analysts forecast that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.68%. Paramount Global’s dividend payout ratio (DPR) is currently -19.61%.

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.