Paramount Global recently announced a regular quarterly dividend of $0.05 per share ($0.20 annualized) on February 22, 2024. This dividend declaration signals a consistent commitment to rewarding shareholders, following the company’s previous payment of $0.05 per share.
Investors looking to benefit from this dividend must act swiftly, with shares needing to be purchased before the ex-dividend date of March 14, 2024. Shareholders as of the record date on March 15, 2024, can anticipate receiving the payout on April 1, 2024.
Currently trading at $21.57 per share, Paramount Global offers a dividend yield of 0.93%, presenting an attractive proposition to those seeking steady returns.
Fund Sentiment Analysis
Reflecting on the sentiment within the investment community towards Paramount Global, data reveals that 214 funds or institutions hold positions in the company. This marks a 1.90% increase in ownership in the last quarter, a testament to the growing confidence in PARAA. The average portfolio weight dedicated to the company has expanded by 3.35% to 0.07%. Additionally, total shares owned by institutions have risen by 1.91% in the last three months, reaching 9,608K shares.
The put/call ratio of PARAA stands at 0.36, indicating an optimistic outlook among investors.
Analyst Price Forecast and Upside Potential
Industry analysts foresee a bright future for Paramount Global, with an average one-year price target of $25.57 as of February 25, 2024. Projections vary from a low of $15.87 to a high of $54.98, painting an optimistic picture with a potential 18.55% upside from the latest reported closing price of $21.57.
For additional context on market projections, explore our leaderboard highlighting companies with the most significant price target upside.
Looking ahead, Paramount Global is positioned for robust financial performance, with projected annual revenue of 33,924MM and a non-GAAP EPS forecasted at 2.04.
Insights into Shareholder Actions
Examining the actions of prominent shareholders, Gamco Investors, Inc. Et Al stands out with 2,852K shares. The firm demonstrated its confidence by increasing its holdings by 0.73% in the last filing, along with a substantial 15.54% rise in portfolio allocation over the previous quarter.
On the other hand, Gabelli Funds reported holding 1,852K shares, showcasing a slight 2.75% decrease in ownership. Nonetheless, the firm augmented its portfolio allocation by 15.00% during the same period.
Noteworthy contributions also come from GABVX – The Gabelli Value 25 Fund Inc., with 520K shares showing stability with no alterations reported in the last quarter.
Meanwhile, Gabelli Equity Trust’s holding of 399K shares experienced a slight dip of 0.50%. The firm reduced its portfolio allocation by 6.87% in the last quarter.
The Gabelli Asset Fund (GATAX) reported a marginal decline of 0.21% in its 374K shares. It also reduced its portfolio allocation by 7.54% in the previous quarter.
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