Altrius Capital Management Inc Has $3.49 Million Holdings in Paramount Global (NASDAQ:PARA)

Altrius Capital Management Inc raised its stake in shares of Paramount Global (NASDAQ:PARA) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 236,025 shares of the company’s stock after purchasing an additional 15,932 shares during the period. Altrius Capital Management Inc’s holdings in Paramount Global were worth $3,491,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. increased its holdings in Paramount Global by 5.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,855 shares of the company’s stock valued at $220,000 after buying an additional 769 shares during the period. Highlander Capital Management LLC lifted its stake in Paramount Global by 13.4% during the fourth quarter. Highlander Capital Management LLC now owns 7,210 shares of the company’s stock worth $107,000 after purchasing an additional 850 shares during the period. Arizona State Retirement System boosted its holdings in Paramount Global by 0.7% during the fourth quarter. Arizona State Retirement System now owns 134,210 shares of the company’s stock valued at $1,985,000 after purchasing an additional 887 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Paramount Global by 1.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,971 shares of the company’s stock valued at $724,000 after purchasing an additional 897 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Paramount Global by 2.1% in the 3rd quarter. Van ECK Associates Corp now owns 49,536 shares of the company’s stock worth $639,000 after buying an additional 996 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Moffett Nathanson upgraded Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 price target on the stock in a research report on Tuesday, January 9th. Wolfe Research upgraded shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research note on Thursday, April 4th. Redburn Atlantic lowered Paramount Global from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $17.00 to $11.00 in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft cut their price objective on Paramount Global from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Finally, Benchmark decreased their target price on Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Eight analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Paramount Global has an average rating of “Hold” and a consensus price target of $13.79.

Paramount Global Price Performance

Shares of PARA traded up $0.34 on Monday, hitting $12.25. The company’s stock had a trading volume of 25,795,561 shares, compared to its average volume of 19,142,123. The firm’s fifty day moving average price is $11.48 and its 200-day moving average price is $12.88. Paramount Global has a fifty-two week low of $10.12 and a fifty-two week high of $24.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.32 and a quick ratio of 1.17.

Paramount Global (NASDAQ:PARA) last released its earnings results on Wednesday, February 28th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The firm had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS. On average, analysts predict that Paramount Global will post 1.19 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.63%. Paramount Global’s payout ratio is presently -19.61%.

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.