Semper Augustus Investments Group LLC Reduces Position in Paramount Global (NASDAQ:PARA)

Semper Augustus Investments Group LLC decreased its holdings in shares of Paramount Global (NASDAQ:PARA) by 30.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,180,089 shares of the company’s stock after selling 511,088 shares during the period. Paramount Global comprises approximately 2.2% of Semper Augustus Investments Group LLC’s holdings, making the stock its 12th largest position. Semper Augustus Investments Group LLC owned about 0.18% of Paramount Global worth $12,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ossiam increased its stake in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after purchasing an additional 1,022 shares in the last quarter. Allworth Financial LP boosted its holdings in Paramount Global by 140.1% in the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares during the period. Treasurer of the State of North Carolina increased its stake in Paramount Global by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company’s stock worth $2,722,000 after buying an additional 1,640 shares in the last quarter. Norinchukin Bank The raised its holdings in Paramount Global by 6.8% during the fourth quarter. Norinchukin Bank The now owns 25,793 shares of the company’s stock valued at $270,000 after acquiring an additional 1,640 shares during the period. Finally, Insight Inv LLC lifted its position in shares of Paramount Global by 9.8% in the fourth quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after acquiring an additional 1,825 shares in the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Trading Up 0.8%

Shares of PARA opened at $11.90 on Friday. The stock has a market capitalization of $7.98 billion, a PE ratio of -1.45, a P/E/G ratio of 1.68 and a beta of 1.25. The company’s fifty day moving average is $11.44 and its 200 day moving average is $11.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $13.05.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.02. The firm had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $7.14 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 EPS. Sell-side analysts expect that Paramount Global will post 1.77 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.68%. Paramount Global’s payout ratio is currently -2.43%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PARA. UBS Group cut 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, April 15th. Benchmark cut their price objective on shares of Paramount Global from $19.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, May 6th. StockNews.com assumed coverage on shares of Paramount Global in a research report on Friday, May 9th. They set a “hold” rating on the stock. Guggenheim restated a “buy” rating and set a $14.00 target price on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Paramount Global currently has a consensus rating of “Hold” and an average target price of $11.58.

Paramount Global Company 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.