On May 22, 2023 at 14:50:03 ET an unusually large $2,535.00K block of Put contracts in Paramount Global – Class B (PARA) was bought, with a strike price of $20.00 / share, expiring in 25 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 12.59 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in PARA options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 1430 funds or institutions reporting positions in Paramount Global – Class B. This is a decrease of 1 owner(s) or 0.07% in the last quarter. Average portfolio weight of all funds dedicated to PARA is 0.18%, an increase of 27.61%. Total shares owned by institutions increased in the last three months by 8.91% to 558,383K shares. The put/call ratio of PARA is 0.86, indicating a bullish outlook.
Analyst Price Forecast Suggests 31.49% Upside
As of May 11, 2023, the average one-year price target for Paramount Global – Class B is 19.95. The forecasts range from a low of 11.11 to a high of $33.60. The average price target represents an increase of 31.49% from its latest reported closing price of 15.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Paramount Global – Class B is 31,683MM, an increase of 5.29%. The projected annual non-GAAP EPS is 1.38.
What are Other Shareholders Doing?
Berkshire Hathaway holds 93,731K shares representing 14.39% ownership of the company. In it’s prior filing, the firm reported owning 93,637K shares, representing an increase of 0.10%. The firm increased its portfolio allocation in PARA by 21.68% over the last quarter.
Capital World Investors holds 18,611K shares representing 2.86% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 15,090K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 14,853K shares, representing an increase of 1.57%. The firm decreased its portfolio allocation in PARA by 16.82% over the last quarter.
AGTHX – GROWTH FUND OF AMERICA holds 14,960K shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Invesco holds 14,247K shares representing 2.19% ownership of the company. In it’s prior filing, the firm reported owning 12,988K shares, representing an increase of 8.84%. The firm decreased its portfolio allocation in PARA by 87.22% over the last quarter.
Paramount Global – Class B Declares $0.05 Dividend
On May 8, 2023 the company declared a regular quarterly dividend of $0.05 per share ($0.20 annualized). Shareholders of record as of June 15, 2023 will receive the payment on July 3, 2023. Previously, the company paid $0.24 per share.
At the current share price of $15.17 / share, the stock’s dividend yield is 1.32%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.82%, the lowest has been 0.96%, and the highest has been 8.51%. The standard deviation of yields is 1.40 (n=236).
The current dividend yield is 1.07 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is -0.29. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is -0.79%.
Paramount Global Background Information
(This description is provided by the company.)
ViacomCBS is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others. The company delivers the largest share of the U.S. television audience and boasts one of the industry’s most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions for partners on five continents.
This article originally appeared on Fintel
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