Paramount Global (NASDAQ:PARA) Stock Position Raised by Lingotto Investment Management LLP

Lingotto Investment Management LLP boosted its stake in Paramount Global (NASDAQ:PARA) by 3.7% in the 4th quarter, Holdings Channel reports. The firm owned 44,753,299 shares of the company’s stock after acquiring an additional 1,593,579 shares during the quarter. Paramount Global accounts for approximately 12.6% of Lingotto Investment Management LLP’s portfolio, making the stock its 3rd largest position. Lingotto Investment Management LLP owned approximately 0.07% of Paramount Global worth $468,120,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP grew its stake in Paramount Global by 140.1% during the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares in the last quarter. Blue Trust Inc. grew its position in shares of Paramount Global by 162.8% during the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after purchasing an additional 1,573 shares in the last quarter. Huntington National Bank increased its holdings in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after purchasing an additional 1,561 shares during the period. Kennebec Savings Bank purchased a new stake in shares of Paramount Global in the third quarter worth $47,000. Finally, FNY Investment Advisers LLC boosted its stake in Paramount Global by 102.4% during the fourth quarter. FNY Investment Advisers LLC now owns 7,224 shares of the company’s stock valued at $75,000 after buying an additional 3,654 shares during the period. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $11.50 on Wednesday. The company’s fifty day simple moving average is $10.77 and its two-hundred day simple moving average is $10.73. The firm has a market cap of $7.67 billion, a PE ratio of -1.40, a price-to-earnings-growth ratio of 1.68 and a beta of 1.69. The company has a quick ratio of 1.10, a current ratio of 1.27 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 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 given a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.74%. Paramount Global’s payout ratio is -2.43%.

Analyst Upgrades and Downgrades

PARA has been the topic of a number of research analyst reports. Macquarie restated an “underperform” rating and issued a $10.00 target price on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, Morgan Stanley upped their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Paramount Global currently has an average rating of “Hold” and a consensus price target of $12.58.

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.