DNB Asset Management AS Has $956,000 Holdings in Paramount Global (NASDAQ:PARA)

DNB Asset Management AS lifted its position in shares of Paramount Global (NASDAQ:PARA) by 32.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 91,964 shares of the company’s stock after buying an additional 22,550 shares during the quarter. DNB Asset Management AS’s holdings in Paramount Global were worth $956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. ProShare Advisors LLC boosted its stake in Paramount Global by 146.5% during the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock worth $1,787,000 after acquiring an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Paramount Global by 5.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after acquiring an additional 34,541 shares in the last quarter. Amalgamated Bank boosted its stake in Paramount Global by 9.1% during the fourth quarter. Amalgamated Bank now owns 145,473 shares of the company’s stock worth $2,152,000 after acquiring an additional 12,174 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Paramount Global by 33.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock worth $4,790,000 after acquiring an additional 103,103 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in 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 acquiring an additional 598,235 shares in the last quarter. 73.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Evercore ISI dropped their price objective on shares of Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Tuesday, July 9th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Tuesday, June 4th. Finally, Seaport Res Ptn lowered shares of Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Eleven research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.83.

Paramount Global Stock Performance

Shares of PARA traded up $0.18 during trading hours on Wednesday, hitting $10.63. The company’s stock had a trading volume of 809,812 shares, compared to its average volume of 17,763,365. The company has a market cap of $7.08 billion, a price-to-earnings ratio of -69.67, a PEG ratio of 0.80 and a beta of 1.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The business has a 50 day simple moving average of $11.15 and a two-hundred day simple moving average of $11.81. Paramount Global has a 52-week low of $9.54 and a 52-week high of $17.50.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 1.88%. Paramount Global’s dividend payout ratio is currently -133.33%.

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.