Deutsche Bank AG Has $37.35 Million Stake in Paramount Global (NASDAQ:PARA)

Key Points

• Deutsche Bank AG has reduced its holdings in Paramount Global (NASDAQ:PARA) by 18.0%, now owning approximately 3.12 million shares valued at around $37.35 million.
• Paramount Global reported $0.46 EPS for the last quarter, surpassing analysts' expectations of $0.37, despite revenue slightly below forecasts at $6.85 billion.
• The company's institutional ownership stands at 73.00%, with several institutional investors like Sumitomo Mitsui DS Asset Management increasing their positions in the stock.

Deutsche Bank AG reduced its position in shares of Paramount Global (NASDAQ:PARA - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,122,693 shares of the company's stock after selling 686,296 shares during the period. Deutsche Bank AG owned about 0.47% of Paramount Global worth $37,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mattson Financial Services LLC acquired a new position in shares of Paramount Global during the fourth quarter valued at $28,000. Ossiam increased its holdings in shares of Paramount Global by 57.2% during the fourth quarter. Ossiam now owns 2,810 shares of the company's stock valued at $29,000 after purchasing an additional 1,022 shares during the period. Canada Post Corp Registered Pension Plan acquired a new position in shares of Paramount Global during the fourth quarter valued at $45,000. Curat Global LLC acquired a new position in shares of Paramount Global during the first quarter valued at $55,000. Finally, Larson Financial Group LLC increased its holdings in shares of Paramount Global by 8,991.5% during the first quarter. Larson Financial Group LLC now owns 5,364 shares of the company's stock valued at $64,000 after purchasing an additional 5,305 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PARA has been the topic of a number of research analyst reports. Guggenheim reissued a "buy" rating and set a $14.00 price target on shares of Paramount Global in a report on Thursday, June 26th. Loop Capital lifted their target price on Paramount Global from $10.00 to $11.00 and gave the stock a "sell" rating in a report on Friday, July 25th. Wall Street Zen assumed coverage on Paramount Global in a report on Saturday, May 17th. They set a "hold" rating on the stock. Citigroup reaffirmed a "neutral" rating and set a $12.00 target price (down from $13.00) on shares of Paramount Global in a report on Thursday, May 29th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a report on Tuesday, July 22nd. Seven analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Paramount Global has a consensus rating of "Hold" and an average target price of $11.70.

Paramount Global Stock Performance

NASDAQ PARA remained flat at $11.04 during trading on Friday. Paramount Global has a 1 year low of $9.95 and a 1 year high of $13.59. The stock has a market cap of $7.44 billion, a PE ratio of -367.88, a price-to-earnings-growth ratio of 3.07 and a beta of 1.17. The company has a current ratio of 1.39, a quick ratio of 1.21 and a debt-to-equity ratio of 0.83. The firm's fifty day simple moving average is $12.39 and its two-hundred day simple moving average is $11.77.

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, topping analysts' consensus estimates of $0.37 by $0.09. Paramount Global had a positive return on equity of 4.51% and a negative net margin of 0.05%. The firm had revenue of $6.85 billion during the quarter, compared to analyst estimates of $6.88 billion. During the same period last year, the company posted $0.54 EPS. The business's quarterly revenue was up .5% compared to the same quarter last year. On average, research analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 16th were given a dividend of $0.05 per share. The ex-dividend date was Monday, June 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Paramount Global's dividend payout ratio (DPR) is presently -666.67%.

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.