Paramount Global (NASDAQ:PARA) Shares Bought by Bridgewater Associates LP

Bridgewater Associates LP boosted its stake in Paramount Global (NASDAQ:PARA - Free Report) by 64.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 539,653 shares of the company's stock after purchasing an additional 211,554 shares during the quarter. Bridgewater Associates LP owned about 0.08% of Paramount Global worth $5,645,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PARA. M&T Bank Corp boosted its holdings in shares of Paramount Global by 25.9% in the 3rd quarter. M&T Bank Corp now owns 38,415 shares of the company's stock worth $408,000 after purchasing an additional 7,908 shares during the period. Virtu Financial LLC purchased a new position in shares of Paramount Global in the 3rd quarter worth approximately $196,000. Franklin Resources Inc. boosted its holdings in shares of Paramount Global by 824.1% in the 3rd quarter. Franklin Resources Inc. now owns 195,690 shares of the company's stock worth $2,029,000 after purchasing an additional 174,514 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Paramount Global by 12.8% in the 3rd quarter. Retirement Systems of Alabama now owns 179,384 shares of the company's stock worth $1,905,000 after purchasing an additional 20,335 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Paramount Global by 22.3% in the 3rd quarter. Principal Financial Group Inc. now owns 683,401 shares of the company's stock worth $7,258,000 after purchasing an additional 124,740 shares during the period. Hedge funds and other institutional investors own 73.00% of the company's stock.

Analyst Ratings Changes

PARA has been the subject of a number of recent research reports. Benchmark reiterated a "buy" rating and issued a $19.00 target price on shares of Paramount Global in a report on Thursday, February 27th. Guggenheim restated a "buy" rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. StockNews.com assumed coverage on Paramount Global in a report on Wednesday. They set a "hold" rating for the company. Needham & Company LLC restated a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Finally, Morgan Stanley boosted their price objective on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Tuesday, February 4th. Seven research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Paramount Global presently has a consensus rating of "Hold" and an average price target of $11.92.

Paramount Global Stock Up 1.5 %

NASDAQ PARA traded up $0.17 on Wednesday, reaching $11.15. 2,826,994 shares of the stock traded hands, compared to its average volume of 11,284,616. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a fifty day moving average price of $11.38 and a 200-day moving average price of $10.96. The company has a market cap of $7.44 billion, a price-to-earnings ratio of -1.36, a PEG 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.

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). The company had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. As a group, research analysts forecast that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Monday, March 17th. Paramount Global's payout ratio is -2.15%.

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.