Carret Asset Management LLC Has $502,000 Holdings in Paramount Global (NASDAQ:PARA)

Carret Asset Management LLC lessened its stake in Paramount Global (NASDAQ:PARA) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,959 shares of the company’s stock after selling 1,800 shares during the quarter. Carret Asset Management LLC’s holdings in Paramount Global were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of Paramount Global by 541.7% in the 4th quarter. International Assets Investment Management LLC now owns 708,662 shares of the company’s stock valued at $10,481,000 after purchasing an additional 598,235 shares during the last quarter. Ariel Investments LLC boosted its stake in Paramount Global by 18.0% during the 3rd quarter. Ariel Investments LLC now owns 11,330,850 shares of the company’s stock worth $146,168,000 after acquiring an additional 1,731,714 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Paramount Global during the 3rd quarter worth approximately $1,240,000. Caprock Group LLC boosted its stake in Paramount Global by 2.9% during the 4th quarter. Caprock Group LLC now owns 50,252 shares of the company’s stock worth $746,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Paramount Global by 1,201.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 84,600 shares of the company’s stock worth $1,282,000 after acquiring an additional 78,100 shares during the last quarter. Institutional investors and hedge funds own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PARA. Moffett Nathanson upgraded shares of Paramount Global from a “sell” rating to a “neutral” rating and set a $13.00 target price on the stock in a report on Tuesday, January 9th. Raymond James restated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. JPMorgan Chase & Co. lowered their target price on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Redburn Atlantic downgraded shares of Paramount Global from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Finally, Wolfe Research raised shares of Paramount Global from an “underperform” rating to a “peer perform” rating in a research report on Thursday, April 4th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.79.

Paramount Global Stock Performance

Shares of Paramount Global stock traded down $0.30 during trading on Thursday, reaching $12.38. The company’s stock had a trading volume of 3,705,494 shares, compared to its average volume of 18,920,672. The business’s 50-day moving average price is $11.50 and its 200-day moving average price is $12.88. The firm has a market cap of $8.08 billion, a PE ratio of -12.43, a P/E/G ratio of 0.45 and a beta of 1.77. Paramount Global has a 52 week low of $10.12 and a 52 week high of $24.00. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.09. The business had revenue of $7.64 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. Paramount Global’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. Equities analysts forecast that Paramount Global will post 1.2 earnings per share 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 $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.62%. The ex-dividend date is Monday, June 17th. Paramount Global’s payout ratio is presently -19.61%.

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.