DekaBank Deutsche Girozentrale Sells 65,812 Shares of Paramount Global (NASDAQ:PARA)

DekaBank Deutsche Girozentrale trimmed its position in Paramount Global (NASDAQ:PARA) by 56.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 51,703 shares of the company’s stock after selling 65,812 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Paramount Global were worth $777,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Highlander Capital Management LLC increased its stake in Paramount Global by 13.4% in the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock valued at $107,000 after acquiring an additional 850 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Paramount Global by 541.7% during the fourth quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock worth $10,481,000 after buying an additional 598,235 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Paramount Global by 0.7% during the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock worth $1,985,000 after buying an additional 887 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Paramount Global by 9.1% during the fourth quarter. Ballentine Partners LLC now owns 26,343 shares of the company’s stock worth $390,000 after buying an additional 2,199 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in shares of Paramount Global by 1.1% during the fourth quarter. State of Michigan Retirement System now owns 179,048 shares of the company’s stock worth $2,648,000 after buying an additional 1,900 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Benchmark lowered their price target on shares of Paramount Global from $30.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, February 28th. Morgan Stanley lowered their price target on shares of Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, February 27th. Finally, Redburn Atlantic downgraded shares of Paramount Global from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Eight investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.79.

Paramount Global Trading Down 0.5 %

Shares of PARA opened at $10.90 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63. The firm’s fifty day simple moving average is $11.68 and its two-hundred day simple moving average is $12.90. Paramount Global has a 12 month low of $10.12 and a 12 month high of $24.00.

Paramount Global (NASDAQ:PARA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $7.64 billion for the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Equities analysts expect that Paramount Global will post 1.17 earnings per share for the current year.

Paramount Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.83%. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

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.