OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 13,573 Paramount Global (NASDAQ:PARA)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Paramount Global (NASDAQ:PARA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,573 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently modified their holdings of the stock. Lindbrook Capital LLC raised its stake in Paramount Global by 102.1% in the 4th quarter. Lindbrook Capital LLC now owns 4,308 shares of the company’s stock valued at $64,000 after purchasing an additional 2,176 shares during the last quarter. abrdn plc grew its holdings in Paramount Global by 20.2% in the fourth quarter. abrdn plc now owns 889,923 shares of the company’s stock valued at $13,162,000 after purchasing an additional 149,672 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in Paramount Global during the fourth quarter worth approximately $67,000. Institute for Wealth Management LLC. raised its stake in Paramount Global by 42.7% during the fourth quarter. Institute for Wealth Management LLC. now owns 44,930 shares of the company’s stock worth $665,000 after purchasing an additional 13,438 shares during the period. Finally, Archer Investment Corp acquired a new position in shares of Paramount Global in the 4th quarter valued at $30,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Price Performance

Shares of NASDAQ PARA opened at $12.38 on Tuesday. 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 has a 1-year low of $10.12 and a 1-year high of $24.00. The business’s fifty day moving average price is $11.50 and its two-hundred day moving average price is $12.87.

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 analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $7.64 billion for 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%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. On average, analysts anticipate that Paramount Global will post 1.2 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.62%. Paramount Global’s dividend payout ratio is presently -19.61%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Benchmark cut their target price on Paramount Global from $30.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Wolfe Research upgraded Paramount Global from an “underperform” rating to a “peer perform” rating in a report on Thursday, April 4th. Raymond James reiterated a “market perform” rating on shares of Paramount Global in a report on Tuesday, March 26th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating for the company in a research note on Thursday, April 4th. Eight investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $13.79.

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.