APG Asset Management N.V. Boosts Holdings in Paramount Global (NASDAQ:PARA)

APG Asset Management N.V. grew its stake in Paramount Global (NASDAQ:PARA) by 189.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,800 shares of the company’s stock after buying an additional 37,200 shares during the quarter. APG Asset Management N.V.’s holdings in Paramount Global were worth $551,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PARA. ProShare Advisors LLC lifted its holdings in Paramount Global by 146.5% in the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after acquiring an additional 90,262 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Paramount Global by 5.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock valued at $7,998,000 after purchasing an additional 34,541 shares during the period. Financial Counselors Inc. boosted its holdings in Paramount Global by 6.9% during the second quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock worth $8,980,000 after buying an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in Paramount Global by 33.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock valued at $4,790,000 after buying an additional 103,103 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Paramount Global by 798.0% in the second quarter. Canada Pension Plan Investment Board now owns 684,300 shares of the company’s stock valued at $7,110,000 after buying an additional 608,100 shares in the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PARA shares. Benchmark reissued a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research note on Friday, August 9th. Rosenblatt Securities reiterated a “neutral” rating and set a $14.00 price target on shares of Paramount Global in a research report on Tuesday, June 4th. Evercore ISI cut their price objective 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. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Finally, The Goldman Sachs Group assumed coverage on shares of Paramount Global in a report on Tuesday, June 25th. They issued a “sell” rating and a $9.50 price target for the company. Ten investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.18.

Paramount Global Stock Performance

NASDAQ PARA opened at $10.60 on Wednesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The stock’s fifty day moving average is $10.67 and its two-hundred day moving average is $11.30. The firm has a market capitalization of $7.07 billion, a P/E ratio of -70.66, a price-to-earnings-growth ratio of 0.60 and a beta of 1.75. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $17.50.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $7.21 billion. On average, research analysts anticipate that Paramount Global will post 1.57 earnings per share for the current year.

Paramount Global Announces Dividend

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

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.