Paramount Global (NASDAQ:PARA) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 8.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 847,300 shares of the company's stock after purchasing an additional 68,700 shares during the period. Canada Pension Plan Investment Board owned approximately 0.13% of Paramount Global worth $8,863,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PARA. Allworth Financial LP raised its holdings in shares of Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company's stock valued at $25,000 after buying an additional 1,395 shares during the period. Mountain Hill Investment Partners Corp. purchased a new position in shares of Paramount Global in the fourth quarter valued at approximately $31,000. Rakuten Securities Inc. increased its stake in Paramount Global by 187.8% during the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company's stock worth $32,000 after buying an additional 2,019 shares during the period. Atlas Capital Advisors Inc. purchased a new position in Paramount Global in the 4th quarter valued at approximately $35,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of Paramount Global in the fourth quarter worth $36,000. Institutional investors and hedge funds own 73.00% of the company's stock.

Paramount Global Stock Performance

NASDAQ PARA traded up $0.30 on Friday, reaching $11.73. The stock had a trading volume of 9,440,814 shares, compared to its average volume of 11,226,951. The stock has a market cap of $7.82 billion, a P/E ratio of -1.43, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The business's 50-day moving average price is $11.39 and its 200 day moving average price is $10.99. 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 released its quarterly earnings results 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 negative net margin of 18.89% and a positive return on equity of 5.81%. The business had revenue of $7.98 billion during the quarter, compared to analysts' expectations of $8.07 billion. As a group, equities analysts expect that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Monday, March 17th. Paramount Global's dividend payout ratio is currently -2.15%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PARA shares. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley increased their price objective on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. Benchmark reiterated a "buy" rating and set a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. StockNews.com started coverage on Paramount Global in a report on Wednesday. They set a "hold" rating for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded Paramount Global from a "buy" rating to a "hold" rating and set a $12.00 price objective on the stock. in a report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Paramount Global presently has a consensus rating of "Hold" and a consensus price target of $11.92.

About Paramount Global

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.