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Raymond James has started covering Paramount Global – Class B (PARA) with a Market Perform recommendation, according to a report by Fintel. The average one-year price target for PARA is $18.85, with a range of $12.12 to $33.60. This represents a potential upside of 34.08% from the current closing price of $14.06. The projected annual revenue for PARA is $31,683MM, an increase of 5.86%, and the projected annual non-GAAP EPS is 1.38. In terms of dividends, PARA recently declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). The current dividend yield is 1.42%, which is 1.00 standard deviations below the historical average. The dividend payout ratio is -0.11, indicating that the company is not effectively using its income to pay dividends. The company’s 3-year dividend growth rate is -0.79%. As for shareholders, Berkshire Hathaway holds 93,731K shares (14.40% ownership), while VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 15,531K shares (2.39% ownership). Invesco decreased its portfolio allocation in PARA by 33.64% over the last quarter, while DVY – iShares Select Dividend ETF increased its ownership by 100.00%. VFINX – Vanguard 500 Index Fund Investor Shares increased its ownership by 2.38% but decreased its portfolio allocation in PARA by 33.83% over the last quarter. ViacomCBS, the parent company of Paramount Global, is a leading global media and entertainment company with a portfolio of iconic consumer brands. It delivers premium content and experiences through various platforms, including CBS, Showtime Networks, Paramount Pictures, Nickelodeon, and MTV. ViacomCBS has a strong presence in the U.S. television audience and offers innovative streaming services and digital video products. Fintel is a comprehensive investing research platform that provides data on fundamentals, analyst reports, ownership data, fund sentiment, insider trading, and more. It offers valuable information for individual investors, traders, financial advisors, and small hedge funds. Please note that the views and opinions expressed in this article are those of the author and do not necessarily reflect those of Nasdaq, Inc.
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