Paramount Global (NASDAQ:PARA) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in Paramount Global (NASDAQ:PARA) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,831 shares of the company’s stock after selling 1,245 shares during the quarter. State of Alaska Department of Revenue’s holdings in Paramount Global were worth $709,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PARA. Charles Schwab Investment Management Inc. lifted its stake in Paramount Global by 16.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock worth $78,533,000 after acquiring an additional 1,030,592 shares in the last quarter. Bridgewater Associates LP lifted its holdings in shares of Paramount Global by 50.7% during the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock valued at $3,484,000 after buying an additional 110,357 shares during the last quarter. Franklin Resources Inc. raised its position in Paramount Global by 824.1% during the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock valued at $2,029,000 after acquiring an additional 174,514 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Paramount Global by 22.3% during the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock worth $7,258,000 after purchasing an additional 124,740 shares during the last quarter. Finally, HBK Investments L P bought a new stake in Paramount Global in the third quarter worth $5,098,000. Institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

PARA has been the subject of several analyst reports. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley increased their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Macquarie reaffirmed an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research report on Monday, November 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Paramount Global currently has an average rating of “Hold” and an average price target of $12.58.

Paramount Global Trading Up 4.5 %

Shares of NASDAQ:PARA opened at $11.30 on Friday. The company’s fifty day simple moving average is $10.73 and its 200 day simple moving average is $10.70. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The firm has a market cap of $7.54 billion, a price-to-earnings ratio of -1.37, a PEG ratio of 1.59 and a beta of 1.69. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

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.