ING Groep NV Increases Stock Holdings in Paramount Global (NASDAQ:PARA)

ING Groep NV lifted its stake in Paramount Global (NASDAQ:PARA - Free Report) by 239.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,964 shares of the company's stock after buying an additional 53,618 shares during the period. ING Groep NV's holdings in Paramount Global were worth $909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hoertkorn Richard Charles lifted its holdings in shares of Paramount Global by 10.2% in the 1st quarter. Hoertkorn Richard Charles now owns 252,485 shares of the company's stock valued at $3,020,000 after purchasing an additional 23,419 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Paramount Global during the first quarter worth approximately $1,040,000. American Century Companies Inc. increased its holdings in shares of Paramount Global by 29.2% in the 4th quarter. American Century Companies Inc. now owns 174,995 shares of the company's stock valued at $1,830,000 after acquiring an additional 39,572 shares during the period. Invesco Ltd. increased its holdings in shares of Paramount Global by 5.7% in the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock valued at $215,413,000 after acquiring an additional 1,119,314 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its position in Paramount Global by 106.6% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 68,698 shares of the company's stock valued at $808,000 after purchasing an additional 35,444 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Global Price Performance

Paramount Global stock opened at $11.04 on Thursday. The company has a market cap of $7.44 billion, a P/E ratio of -367.88, a price-to-earnings-growth ratio of 3.27 and a beta of 1.17. Paramount Global has a one year low of $9.95 and a one year high of $13.59. The business has a fifty day moving average of $12.50 and a two-hundred day moving average of $11.76. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.21 and a current ratio of 1.39.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.37 by $0.09. The firm had revenue of $6.85 billion during the quarter, compared to analysts' expectations of $6.88 billion. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.51%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 earnings per share. As a group, analysts predict that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were issued a $0.05 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. Paramount Global's dividend payout ratio is currently -666.67%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PARA shares. UBS Group lowered their price objective on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen started coverage on Paramount Global in a research report on Saturday, May 17th. They issued a "hold" rating on the stock. Morgan Stanley increased their price objective on Paramount Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a research report on Friday, August 1st. Guggenheim reiterated a "buy" rating and issued a $14.00 target price on shares of Paramount Global in a research note on Thursday, June 26th. Finally, Benchmark cut their price target on Paramount Global from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Tuesday, May 6th. Seven research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $11.70.

Paramount Global Company 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.

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