ING Groep NV Sells 5,831 Shares of Paramount Global (NASDAQ:PARA)

ING Groep NV decreased its holdings in Paramount Global (NASDAQ:PARA) by 20.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,346 shares of the company’s stock after selling 5,831 shares during the period. ING Groep NV’s holdings in Paramount Global were worth $234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp raised its stake in Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock valued at $470,695,000 after buying an additional 6,848,037 shares during the period. Geode Capital Management LLC raised its stake in Paramount Global by 12.1% in the third quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after buying an additional 1,606,779 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Paramount Global by 16.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after buying an additional 1,030,592 shares during the period. Wilsey Asset Management Inc. raised its stake in Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock valued at $19,898,000 after buying an additional 265,408 shares during the period. Finally, Swiss National Bank raised its stake in Paramount Global by 12.6% in the third quarter. Swiss National Bank now owns 1,765,188 shares of the company’s stock valued at $18,746,000 after buying an additional 197,300 shares during the period. Institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Up 1.6 %

PARA stock opened at $11.67 on Tuesday. The company has a market cap of $7.78 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The business has a 50-day simple moving average of $10.76 and a 200 day simple moving average of $10.72. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.43%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PARA shares. Macquarie restated an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Morgan Stanley upped their target price on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.58.

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.