5 Best Affordable Dividend Stocks to Buy

4. Paramount Global (NASDAQ:PARA)

Stock Price as of September 27: $19.40

Dividend Yield as of September 27: 4.95%

Number of Hedge Fund Holders: 42

Paramount Global (NASDAQ:PARA) is a leading global media and entertainment company comprising studios, networks, and streaming services, through a portfolio of brands that includes well-known names such as CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, Pluto TV and Simon & Schuster, among others.

Earlier this year in August, Paramount Global (NASDAQ:PARA) released its financial results for the quarter ended June 30, 2022. Its total revenue increased by 19% y-o-y to $7.8 billion, while it reported a net income of $422 million, for the three months. The normalized EPS was recorded at $0.64 for the quarter, beating the consensus by $0.02.

As of September 27, Paramount Global (NASDAQ:PARA) shares have lost 35.72% of their value year-to-date and trade at a forward P/E ratio of 11.75. Analysts have an average price target of $27.70 for its shares.

As of Q2 2022, 42 of the 895 hedge funds tracked by Insider Monkey were long Paramount Global (NASDAQ:PARA), holding shares worth $2.6 billion. Warren Buffet’s Berkshire Hathaway is its biggest shareholder.