Nisa Investment Advisors LLC Boosts Position in Paramount Global (NASDAQ:PARA)

Nisa Investment Advisors LLC lifted its position in Paramount Global (NASDAQ:PARA - Free Report) by 36.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,045 shares of the company's stock after purchasing an additional 30,128 shares during the period. Nisa Investment Advisors LLC's holdings in Paramount Global were worth $1,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mattson Financial Services LLC bought a new position in Paramount Global during the 4th quarter worth about $28,000. Ossiam lifted its position in shares of Paramount Global by 57.2% in the 4th quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after purchasing an additional 1,022 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global during the fourth quarter valued at approximately $31,000. Atlas Capital Advisors Inc. purchased a new position in Paramount Global during the fourth quarter valued at approximately $35,000. Finally, Resona Asset Management Co. Ltd. bought a new position in Paramount Global in the fourth quarter worth approximately $36,000. Institutional investors own 73.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PARA. Morgan Stanley dropped their target price on Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Tuesday, May 6th. Guggenheim reissued a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft lowered Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a research note on Wednesday, April 2nd. UBS Group lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup reissued a "neutral" rating and set a $12.00 price objective (down from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $11.67.

Paramount Global Stock Performance

NASDAQ PARA traded down $0.03 during mid-day trading on Thursday, reaching $12.94. 5,851,783 shares of the stock were exchanged, compared to its average volume of 8,816,706. The company has a market capitalization of $8.72 billion, a P/E ratio of -1.57, a P/E/G ratio of 3.93 and a beta of 1.19. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.18 and a current ratio of 1.29. The business's 50 day moving average is $12.23 and its 200-day moving average is $11.52. Paramount Global has a 1 year low of $9.95 and a 1 year high of $13.29.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.02. The firm had revenue of $7.19 billion for the quarter, compared to analysts' expectations of $7.14 billion. Paramount Global had a positive return on equity of 4.80% and a negative net margin of 19.09%. The company's quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. On average, equities research analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Monday, June 16th. Paramount Global's payout ratio is -2.43%.

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.