ING Groep NV Has $234,000 Holdings in Paramount Global (NASDAQ:PARA)

ING Groep NV trimmed its holdings in Paramount Global (NASDAQ:PARA) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Blue Trust Inc. grew its stake in Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after acquiring an additional 1,573 shares during the period. Huntington National Bank grew its stake in Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares during the period. Kennebec Savings Bank acquired a new position in Paramount Global in the third quarter valued at about $47,000. Finally, FNY Investment Advisers LLC grew its stake in Paramount Global by 102.4% in the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after acquiring an additional 3,654 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Paramount Global Stock Performance

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

Paramount Global Announces Dividend

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

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.