Caisse DE Depot ET Placement DU Quebec Purchases New Stake in Paramount Global (NASDAQ:PARA)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Paramount Global (NASDAQ:PARA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 204,100 shares of the company's stock, valued at approximately $2,135,000.

Several other large investors also recently made changes to their positions in the company. Contrarius Group Holdings Ltd acquired a new position in shares of Paramount Global during the 4th quarter valued at $146,230,000. Norges Bank purchased a new stake in Paramount Global during the fourth quarter valued at about $45,202,000. Slate Path Capital LP raised its stake in Paramount Global by 42.3% during the 4th quarter. Slate Path Capital LP now owns 12,586,000 shares of the company's stock valued at $131,650,000 after purchasing an additional 3,741,000 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Paramount Global in the 4th quarter worth about $20,292,000. Finally, Lingotto Investment Management LLP increased its stake in Paramount Global by 3.7% in the 4th quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock valued at $468,120,000 after buying an additional 1,593,579 shares during the period. Institutional investors and hedge funds own 73.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PARA. Deutsche Bank Aktiengesellschaft lowered shares of Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price target on the stock. in a research note on Wednesday, April 2nd. UBS Group dropped their price objective on shares of Paramount Global from $11.00 to $10.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Guggenheim restated a "buy" rating and issued a $14.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reduced their target price 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. Finally, StockNews.com assumed coverage on Paramount Global in a report on Friday. They set a "hold" rating on the stock. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Paramount Global has an average rating of "Hold" and an average target price of $11.58.

Paramount Global Stock Performance

Shares of NASDAQ:PARA traded up $0.26 during trading on Friday, reaching $11.94. 10,207,448 shares of the stock were exchanged, compared to its average volume of 10,435,121. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $11.42 and a 200-day moving average price of $11.05. Paramount Global has a 12 month low of $9.54 and a 12 month high of $13.40. The firm has a market cap of $8.01 billion, a PE ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.25.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.19 billion during the quarter, compared to analysts' expectations of $7.14 billion. During the same quarter in the prior year, the business posted $0.62 earnings per share. Paramount Global's revenue was down 6.4% compared to the same quarter last year. Research analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were paid a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. Paramount Global's dividend payout ratio is -2.15%.

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.