Paramount Global (NASDAQ:PARA) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in Paramount Global (NASDAQ:PARA) by 11.0% in the second quarter, HoldingsChannel reports. The firm owned 59,447 shares of the company’s stock after purchasing an additional 5,898 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Paramount Global were worth $606,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PARA. Gruss & Co. LLC acquired a new position in Paramount Global during the 2nd quarter worth $520,000. American Century Companies Inc. lifted its position in shares of Paramount Global by 1.3% during the second quarter. American Century Companies Inc. now owns 149,144 shares of the company’s stock worth $1,550,000 after purchasing an additional 1,984 shares during the last quarter. Angeles Wealth Management LLC acquired a new position in Paramount Global in the second quarter worth about $129,000. Carson Advisory Inc. increased its holdings in Paramount Global by 3.7% in the second quarter. Carson Advisory Inc. now owns 53,360 shares of the company’s stock valued at $554,000 after buying an additional 1,903 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its stake in Paramount Global by 16.9% during the second quarter. Daiwa Securities Group Inc. now owns 56,821 shares of the company’s stock valued at $590,000 after buying an additional 8,200 shares in the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Price Performance

NASDAQ PARA opened at $10.37 on Friday. The firm has a market capitalization of $6.91 billion, a PE ratio of -69.13, a P/E/G ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The company’s 50 day simple moving average is $10.85 and its 200 day simple moving average is $11.32.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.40. The company had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. As a group, equities research analysts forecast that Paramount Global will post 1.57 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Monday, September 16th. Paramount Global’s payout ratio is -133.33%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Evercore ISI decreased their target price on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $10.00 to $11.00 in a research note on Friday, August 9th. The Goldman Sachs Group initiated coverage on shares of Paramount Global in a research report on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price target on the stock. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Paramount Global in a research report on Tuesday, June 4th. Eleven analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.47.

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.