Belpointe Asset Management LLC Reduces Stake in Paramount Global (NASDAQ:PARA)

Belpointe Asset Management LLC cut its stake in shares of Paramount Global (NASDAQ:PARA) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,822 shares of the company’s stock after selling 1,537 shares during the period. Belpointe Asset Management LLC’s holdings in Paramount Global were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PARA. Allworth Financial LP increased its position 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 during the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Paramount Global during the 4th quarter valued at about $31,000. Rakuten Securities Inc. raised its position in Paramount Global by 187.8% in the 4th quarter. Rakuten Securities Inc. now owns 3,094 shares of the company’s stock worth $32,000 after purchasing an additional 2,019 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Paramount Global in the fourth quarter worth about $35,000. Finally, Resona Asset Management Co. Ltd. purchased a new position in shares of Paramount Global during the fourth quarter valued at approximately $36,000. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Up 2.1 %

Shares of NASDAQ PARA opened at $10.94 on Friday. Paramount Global has a 12-month low of $9.54 and a 12-month high of $14.54. The stock’s fifty day simple moving average is $11.37 and its two-hundred day simple moving average is $10.95. The stock has a market capitalization of $7.30 billion, a PE ratio of -1.33, a price-to-earnings-growth ratio of 1.68 and a beta of 1.31. 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 (NASDAQ:PARA) last issued its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. As a group, analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Monday, March 17th. Paramount Global’s payout ratio is currently -2.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Paramount Global in a report on Tuesday. They issued a “hold” rating on the stock. UBS Group decreased their target price on Paramount Global from $11.00 to $10.00 and set a “sell” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut shares of Paramount Global from a “buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a report on Wednesday, April 2nd. Guggenheim reiterated a “buy” rating and set a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Finally, Benchmark restated a “buy” rating and issued a $19.00 target price on shares of Paramount Global in a research note on Thursday, February 27th. Seven equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.92.

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.