Paramount Global (NASDAQ:PARA) Shares Purchased by Lingotto Investment Management LLP

Lingotto Investment Management LLP lifted its stake in shares of Paramount Global (NASDAQ:PARA - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,753,299 shares of the company's stock after buying an additional 1,593,579 shares during the quarter. Paramount Global makes up about 12.6% of Lingotto Investment Management LLP's investment portfolio, making the stock its 3rd largest holding. Lingotto Investment Management LLP owned approximately 6.71% of Paramount Global worth $468,120,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Carson Advisory Inc. boosted its holdings in Paramount Global by 1.9% in the third quarter. Carson Advisory Inc. now owns 54,364 shares of the company's stock worth $577,000 after purchasing an additional 1,004 shares during the period. Allworth Financial LP boosted its holdings in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company's stock worth $25,000 after purchasing an additional 1,395 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Paramount Global by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company's stock worth $977,000 after purchasing an additional 1,481 shares during the period. Huntington National Bank boosted its holdings in shares of Paramount Global by 129.0% during 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. Finally, Blue Trust Inc. boosted its holdings in shares of Paramount Global by 162.8% during 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. Institutional investors and hedge funds own 73.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Benchmark reissued a "buy" rating and set a $19.00 price target on shares of Paramount Global in a report on Thursday. Morgan Stanley boosted their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Macquarie reissued an "underperform" rating and set a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. StockNews.com raised shares of Paramount Global from a "sell" rating to a "hold" rating in a report on Monday, November 11th. Finally, Guggenheim restated a "buy" rating and set a $14.00 price objective on shares of Paramount Global in a research note on Thursday. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Paramount Global presently has an average rating of "Hold" and an average target price of $12.10.

Paramount Global Price Performance

Paramount Global stock traded up $0.12 during midday trading on Friday, hitting $11.36. The company's stock had a trading volume of 10,644,777 shares, compared to its average volume of 9,219,442. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. The stock's 50-day moving average price is $10.81 and its 200-day moving average price is $10.74. Paramount Global has a 12 month low of $9.54 and a 12 month high of $14.54. The company has a market capitalization of $7.58 billion, a PE ratio of -1.38, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69.

Paramount Global (NASDAQ:PARA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $7.98 billion for the quarter, compared to analysts' expectations of $8.07 billion. Analysts anticipate that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Monday, March 17th. Paramount Global's dividend 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.