SageView Advisory Group LLC Makes New $284,000 Investment in Paramount Global (NASDAQ:PARAA)

SageView Advisory Group LLC acquired a new stake in shares of Paramount Global (NASDAQ:PARAA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,800 shares of the company’s stock, valued at approximately $284,000.

A number of other hedge funds have also made changes to their positions in the stock. Gamco Investors INC. ET AL increased its position in shares of Paramount Global by 0.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 2,852,411 shares of the company’s stock valued at $56,078,000 after purchasing an additional 20,883 shares during the period. Ninety One UK Ltd bought a new stake in Paramount Global in the fourth quarter worth about $3,421,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Paramount Global by 8.8% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 81,700 shares of the company’s stock valued at $1,606,000 after acquiring an additional 6,600 shares during the last quarter. Honeycomb Asset Management LP bought a new position in shares of Paramount Global during the 4th quarter valued at about $880,000. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Paramount Global by 29.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $557,000 after purchasing an additional 8,007 shares in the last quarter. Institutional investors and hedge funds own 5.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn cut shares of Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd.

Paramount Global Stock Up 3.8 %

Shares of Paramount Global stock opened at 17.66 on Friday. Paramount Global has a 12-month low of 13.40 and a 12-month high of 26.34. The firm has a market capitalization of $11.52 billion, a PE ratio of -117.73 and a beta of 1.68. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The stock’s fifty day moving average is 21.20 and its 200-day moving average is 20.93.

Paramount Global (NASDAQ:PARAA) last posted its quarterly earnings data on Monday, April 29th. The company reported 0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.37. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. The firm had revenue of 7.69 billion for the quarter, compared to the consensus estimate of 7.85 billion. Equities analysts anticipate that Paramount Global will post 1.25 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio is -133.32%.

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.