APG Asset Management N.V. Buys 37,200 Shares of Paramount Global (NASDAQ:PARA)

APG Asset Management N.V. lifted its stake in shares of Paramount Global (NASDAQ:PARA) by 189.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,800 shares of the company’s stock after acquiring an additional 37,200 shares during the quarter. APG Asset Management N.V.’s holdings in Paramount Global were worth $551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lingotto Investment Management LLP increased its holdings in Paramount Global by 628.8% during the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after purchasing an additional 25,829,185 shares during the period. Vanguard Group Inc. increased its stake in shares of Paramount Global by 6.5% during the first quarter. Vanguard Group Inc. now owns 62,090,467 shares of the company’s stock valued at $730,805,000 after buying an additional 3,803,928 shares during the period. Capitolis Liquid Global Markets LLC bought a new stake in shares of Paramount Global in the first quarter valued at about $33,191,000. Jane Street Group LLC lifted its stake in Paramount Global by 323.5% in the first quarter. Jane Street Group LLC now owns 2,754,222 shares of the company’s stock worth $32,417,000 after acquiring an additional 2,103,938 shares during the period. Finally, Ariel Investments LLC lifted its stake in Paramount Global by 16.5% in the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after acquiring an additional 1,992,576 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Trading Down 0.2 %

NASDAQ PARA opened at $10.60 on Wednesday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $17.50. The company has a fifty day simple moving average of $10.67 and a two-hundred day simple moving average of $11.30. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. The stock has a market cap of $7.07 billion, a P/E ratio of -70.66, a P/E/G ratio of 0.60 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $7.21 billion. Paramount Global had a positive return on equity of 4.88% and a negative net margin of 17.62%. On average, analysts forecast that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be given a $0.05 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.89%. Paramount Global’s dividend payout ratio is currently -133.32%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PARA shares. Benchmark restated a “buy” rating and issued a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on shares of Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. The Goldman Sachs Group began coverage on Paramount Global in a research report on Tuesday, June 25th. They set a “sell” rating and a $9.50 target price on the stock. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $10.00 to $11.00 in a research note on Friday, August 9th. Ten equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.18.

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.