Amundi Raises Stock Holdings in Paramount Global (NASDAQ:PARA)

Amundi boosted its stake in shares of Paramount Global (NASDAQ:PARA) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,655,784 shares of the company’s stock after purchasing an additional 152,026 shares during the quarter. Amundi owned about 0.25% of Paramount Global worth $17,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PARA. Allworth Financial LP boosted 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 in the last quarter. PNC Financial Services Group Inc. lifted its position in Paramount Global by 1.6% during the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after acquiring an additional 1,481 shares during the last quarter. Huntington National Bank boosted 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in Paramount Global by 10.4% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock valued at $187,000 after acquiring an additional 1,663 shares in the last quarter. Finally, Insight Inv LLC grew its holdings in Paramount Global by 9.8% in the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock worth $215,000 after purchasing an additional 1,825 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Stock Performance

PARA opened at $11.64 on Friday. The firm has a 50 day moving average of $11.01 and a two-hundred day moving average of $10.79. The firm has a market capitalization of $7.76 billion, a PE ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54.

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

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.72%. Paramount Global’s payout ratio is -2.15%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PARA shares. Benchmark reiterated a “buy” rating and set a $19.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley increased their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Six 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 stock. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and an average target price of $12.10.

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.