Paramount Global (NASDAQ:PARA) Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its holdings in shares of Paramount Global (NASDAQ:PARA) by 18.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,122,693 shares of the company’s stock after selling 686,296 shares during the period. Deutsche Bank AG owned about 0.47% of Paramount Global worth $37,347,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PARA. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Paramount Global by 8.0% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,259 shares of the company’s stock worth $147,000 after purchasing an additional 907 shares during the last quarter. Ossiam boosted its stake in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock valued at $29,000 after purchasing an additional 1,022 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its stake in Paramount Global by 2.3% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 51,913 shares of the company’s stock valued at $621,000 after purchasing an additional 1,143 shares during the period. SOL Capital Management CO lifted its stake in shares of Paramount Global by 0.7% in the 1st quarter. SOL Capital Management CO now owns 181,874 shares of the company’s stock worth $2,175,000 after acquiring an additional 1,270 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Paramount Global by 4.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,372 shares of the company’s stock worth $391,000 after acquiring an additional 1,359 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on PARA shares. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a report on Tuesday, July 22nd. Benchmark dropped their price objective on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen started coverage on shares of Paramount Global in a research note on Saturday, May 17th. They issued a “hold” rating on the stock. UBS Group decreased their target price on shares of Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research report on Tuesday, April 15th. Finally, Loop Capital upped their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the stock a “sell” rating in a report on Friday, July 25th. Seven investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.70.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $11.04 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.39 and a quick ratio of 1.21. Paramount Global has a fifty-two week low of $9.95 and a fifty-two week high of $13.59. The firm has a fifty day moving average price of $12.42 and a two-hundred day moving average price of $11.78. The company has a market cap of $7.44 billion, a PE ratio of -367.88, a price-to-earnings-growth ratio of 3.07 and a beta of 1.17.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.09. The company had revenue of $6.85 billion during the quarter, compared to the consensus estimate of $6.88 billion. Paramount Global had a negative net margin of 0.05% and a positive return on equity of 4.51%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. Analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global’s dividend payout ratio (DPR) is currently -666.67%.

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.