State of New Jersey Common Pension Fund D Purchases 10,097 Shares of Paramount Global (NASDAQ:PARA)

State of New Jersey Common Pension Fund D increased its position in Paramount Global (NASDAQ:PARA) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 298,814 shares of the company’s stock after acquiring an additional 10,097 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Paramount Global were worth $4,419,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. VisionPoint Advisory Group LLC bought a new stake in Paramount Global during the third quarter valued at about $25,000. Anchor Investment Management LLC bought a new stake in Paramount Global during the fourth quarter valued at about $30,000. Archer Investment Corp bought a new stake in Paramount Global during the fourth quarter valued at about $30,000. WFA of San Diego LLC grew its holdings in Paramount Global by 635.0% during the third quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock valued at $34,000 after purchasing an additional 2,286 shares during the period. Finally, Cornerstone Planning Group LLC grew its holdings in Paramount Global by 55.1% during the third quarter. Cornerstone Planning Group LLC now owns 2,972 shares of the company’s stock valued at $38,000 after purchasing an additional 1,056 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Down 2.2 %

Shares of PARA stock 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 company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The stock’s 50 day simple moving average is $11.48 and its two-hundred day simple moving average is $12.87.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities research analysts anticipate that Paramount Global will post 1.2 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Paramount Global’s payout ratio is -19.61%.

Analyst Upgrades and Downgrades

PARA has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Paramount Global in a research note on Thursday, February 29th. Redburn Atlantic lowered Paramount Global from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $17.00 to $11.00 in a research note on Thursday, January 11th. Benchmark dropped their price objective on Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective on Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Paramount Global in a research note on Tuesday, March 26th. Eight analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Paramount Global presently has a consensus rating of “Hold” and an average target price of $13.79.

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.