ING Groep NV Buys 53,618 Shares of Paramount Global (NASDAQ:PARA)

Key Points

• ING Groep NV increased its stake in Paramount Global by 239.9% in the first quarter, owning a total of 75,964 shares valued at approximately $909,000.
• Paramount Global reported $0.46 earnings per share for the latest quarter, surpassing analysts' expectations of $0.37, while revenue slightly decreased to $6.85 billion.
• The company declared a $0.05 quarterly dividend, representing an annualized yield of 1.8%, despite a negative dividend payout ratio of -666.67%.

ING Groep NV raised its position in Paramount Global (NASDAQ:PARA - Free Report) by 239.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,964 shares of the company's stock after purchasing an additional 53,618 shares during the quarter. ING Groep NV's holdings in Paramount Global were worth $909,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PARA. Mattson Financial Services LLC bought a new stake in shares of Paramount Global in the 4th quarter valued at about $28,000. Ossiam increased its position in Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company's stock worth $29,000 after buying an additional 1,022 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in Paramount Global in the fourth quarter valued at approximately $36,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Paramount Global in the fourth quarter valued at approximately $45,000. Finally, Curat Global LLC bought a new position in shares of Paramount Global during the 1st quarter worth approximately $55,000. Institutional investors own 73.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PARA shares. Guggenheim restated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Citigroup reaffirmed a "neutral" rating and set a $12.00 target price (down previously from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Loop Capital upped their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company a "sell" rating in a research note on Friday, July 25th. Finally, UBS Group cut 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 report on Tuesday, April 15th. Seven research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $11.70.

Paramount Global Price Performance

Shares of Paramount Global stock remained flat at $11.04 during midday trading on Monday. The company has a 50 day moving average of $12.46 and a 200 day moving average of $11.78. The stock has a market cap of $7.44 billion, a price-to-earnings ratio of -367.88, a PEG ratio of 3.07 and a beta of 1.17. Paramount Global has a 12 month low of $9.95 and a 12 month high of $13.59. The company has a current ratio of 1.39, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83.

Paramount Global (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.09. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.88 billion. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.51%. The company's revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.8%. The ex-dividend date was Monday, June 16th. Paramount Global's dividend payout ratio is -666.67%.

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.