Amundi Acquires 152,026 Shares of Paramount Global (NASDAQ:PARA)

Amundi lifted its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 10.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,655,784 shares of the company's stock after acquiring an additional 152,026 shares during the period. Amundi owned approximately 0.25% of Paramount Global worth $17,618,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Paramount Global by 4.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,743,123 shares of the company's stock worth $80,993,000 after purchasing an additional 348,298 shares in the last quarter. Bridgewater Associates LP lifted its position in Paramount Global by 50.7% in the 3rd quarter. Bridgewater Associates LP now owns 328,099 shares of the company's stock worth $3,484,000 after buying an additional 110,357 shares during the last quarter. Franklin Resources Inc. boosted its stake in Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after buying an additional 174,514 shares in the last quarter. Wilsey Asset Management Inc. grew its position in Paramount Global by 16.2% during the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company's stock valued at $19,898,000 after acquiring an additional 265,408 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Paramount Global by 24.7% during the fourth quarter. Bank of New York Mellon Corp now owns 4,586,288 shares of the company's stock worth $47,973,000 after acquiring an additional 908,515 shares in the last quarter. Institutional investors own 73.00% of the company's stock.

Analysts Set New Price Targets

PARA has been the subject of a number of research reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim restated a "buy" rating and set a $14.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Morgan Stanley raised their price objective on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Tuesday, February 4th. Finally, Benchmark restated a "buy" rating and set a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.10.

Paramount Global Trading Up 0.3 %

PARA stock traded up $0.04 on Monday, reaching $11.68. The company's stock had a trading volume of 4,616,555 shares, compared to its average volume of 12,551,552. The firm has a market cap of $7.79 billion, a PE ratio of -1.42, a PEG ratio of 1.68 and a beta of 1.60. The business has a fifty day simple moving average of $11.05 and a two-hundred day simple moving average of $10.80. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. As a group, research analysts forecast that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. Paramount Global's dividend payout ratio (DPR) is -2.15%.

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.