Altrius Capital Management Inc Increases Stock Position in Paramount Global (NASDAQ:PARA)

Altrius Capital Management Inc raised its stake in shares of Paramount Global (NASDAQ:PARA) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 338,796 shares of the company’s stock after purchasing an additional 28,688 shares during the quarter. Altrius Capital Management Inc’s holdings in Paramount Global were worth $3,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. ProShare Advisors LLC raised its holdings in shares of Paramount Global by 146.5% during the 1st quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after buying an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Paramount Global by 5.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock worth $7,998,000 after acquiring an additional 34,541 shares during the last quarter. Financial Counselors Inc. boosted its stake in shares of Paramount Global by 6.9% in the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock valued at $8,980,000 after purchasing an additional 56,021 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its position in Paramount Global by 33.9% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock worth $4,790,000 after purchasing an additional 103,103 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Paramount Global by 19.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 57,368 shares of the company’s stock valued at $848,000 after buying an additional 9,512 shares during the period. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PARA. StockNews.com downgraded Paramount Global from a “hold” rating to a “sell” rating in a research report on Saturday, September 14th. The Goldman Sachs Group began coverage on Paramount Global in a research note on Tuesday, June 25th. They issued a “sell” rating and a $9.50 target price on the stock. Benchmark restated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Friday, August 9th. Wells Fargo & Company upgraded Paramount Global from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $10.00 to $11.00 in a report on Friday, August 9th. Finally, Evercore ISI cut their price objective on Paramount Global from $13.00 to $11.50 and set an “in-line” rating on the stock in a research report on Tuesday, July 9th. Eleven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global currently has an average rating of “Hold” and a consensus target price of $12.47.

Paramount Global Stock Up 1.1 %

Shares of Paramount Global stock opened at $10.56 on Thursday. Paramount Global has a 1 year low of $9.54 and a 1 year high of $17.50. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of -70.40, a PEG ratio of 0.57 and a beta of 1.75. The company has a 50-day moving average of $10.89 and a 200 day moving average of $11.33. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.40. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. As a group, sell-side analysts anticipate that Paramount Global will post 1.57 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Monday, September 16th. Paramount Global’s payout ratio is -133.32%.

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.