Vontobel Holding Ltd. Sells 3,860 Shares of Paramount Global (NASDAQ:PARA)

Vontobel Holding Ltd. reduced its stake in Paramount Global (NASDAQ:PARA) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,665 shares of the company’s stock after selling 3,860 shares during the period. Vontobel Holding Ltd.’s holdings in Paramount Global were worth $676,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Paramount Global by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after buying an additional 3,803,928 shares in the last quarter. Lingotto Investment Management LLP grew its stake in Paramount Global by 628.8% during the second quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock valued at $311,046,000 after acquiring an additional 25,829,185 shares in the last quarter. Ariel Investments LLC grew its stake in Paramount Global by 16.5% during the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock valued at $145,899,000 after acquiring an additional 1,992,576 shares in the last quarter. Kodai Capital Management LP lifted its stake in Paramount Global by 9.2% in the 1st quarter. Kodai Capital Management LP now owns 6,264,374 shares of the company’s stock worth $73,732,000 after purchasing an additional 527,897 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Paramount Global by 6.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,724,532 shares of the company’s stock valued at $38,698,000 after purchasing an additional 225,191 shares during the period. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on PARA. Benchmark reissued a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a research note on Friday, August 9th. Wolfe Research cut shares of Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 price objective on the stock. in a research report on Tuesday, July 9th. Evercore ISI dropped their target price on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. 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 report on Wednesday, September 25th. Finally, The Goldman Sachs Group started coverage on shares of Paramount Global in a report on Tuesday, June 25th. They set a “sell” rating and a $9.50 price objective for the company. Nine 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.33.

Paramount Global Price Performance

PARA stock opened at $10.31 on Tuesday. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of -1.33, a PEG ratio of 0.58 and a beta of 1.75. The firm’s 50-day moving average price is $10.54 and its two-hundred day moving average price is $11.17. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.21 billion. As a group, equities analysts predict that Paramount Global will post 1.56 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Monday, December 16th. Paramount Global’s payout ratio is -2.57%.

Paramount Global 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.