OVERSEA CHINESE BANKING Corp Ltd Buys New Shares in Paramount Global (NASDAQ:PARA)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Paramount Global (NASDAQ:PARA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 13,573 shares of the company’s stock, valued at approximately $201,000.

Other large investors have also made changes to their positions in the company. Lindbrook Capital LLC raised its stake in Paramount Global by 102.1% during the fourth quarter. Lindbrook Capital LLC now owns 4,308 shares of the company’s stock worth $64,000 after acquiring an additional 2,176 shares in the last quarter. abrdn plc increased its position in shares of Paramount Global by 20.2% during the 4th quarter. abrdn plc now owns 889,923 shares of the company’s stock worth $13,162,000 after purchasing an additional 149,672 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new position in Paramount Global during the 4th quarter valued at about $67,000. Institute for Wealth Management LLC. boosted its position in Paramount Global by 42.7% in the fourth quarter. Institute for Wealth Management LLC. now owns 44,930 shares of the company’s stock valued at $665,000 after buying an additional 13,438 shares in the last quarter. Finally, Archer Investment Corp bought a new stake in Paramount Global during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Global Trading Down 0.5 %

Shares of PARA opened at $12.38 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.17 and a current ratio of 1.32. The stock’s 50-day moving average price is $11.50 and its two-hundred day moving average price is $12.87. Paramount Global has a 1 year low of $10.12 and a 1 year high of $24.00.

Paramount Global (NASDAQ:PARA) last released 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. Paramount Global had a negative net margin of 2.05% and a positive return on equity of 1.78%. The business had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the firm earned $0.08 EPS. Paramount Global’s quarterly revenue was down 6.1% compared to the same quarter last year. Equities analysts expect that Paramount Global will post 1.2 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is -19.61%.

Analysts Set New Price Targets

Several research analysts have recently commented on PARA shares. Redburn Atlantic downgraded Paramount Global from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $17.00 to $11.00 in a report on Thursday, January 11th. Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Morgan Stanley cut their price target on Paramount Global from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Tuesday, February 27th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of Paramount Global in a research note on Thursday, February 29th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Paramount Global presently has an average rating of “Hold” and a consensus target price of $13.79.

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.