Harel Insurance Investments & Financial Services Ltd. Has $1.28 Million Stock Position in Paramount Global (NASDAQ:PARA)

Harel Insurance Investments & Financial Services Ltd. lifted its stake in Paramount Global (NASDAQ:PARA - Free Report) by 1,201.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,600 shares of the company's stock after buying an additional 78,100 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in Paramount Global were worth $1,282,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its holdings in Paramount Global by 30.4% during the 1st quarter. BlackRock Inc. now owns 54,882,034 shares of the company's stock valued at $1,224,418,000 after buying an additional 12,783,448 shares during the period. State Street Corp grew its stake in shares of Paramount Global by 7.3% in the first quarter. State Street Corp now owns 35,333,056 shares of the company's stock worth $796,459,000 after acquiring an additional 2,402,874 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of Paramount Global during the first quarter worth $41,174,000. Charles Schwab Investment Management Inc. raised its stake in shares of Paramount Global by 15.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,299,798 shares of the company's stock valued at $171,567,000 after acquiring an additional 1,767,173 shares in the last quarter. Finally, Ariel Investments LLC boosted its holdings in Paramount Global by 18.0% in the third quarter. Ariel Investments LLC now owns 11,330,850 shares of the company's stock valued at $146,168,000 after purchasing an additional 1,731,714 shares during the period. Institutional investors own 73.00% of the company's stock.

Paramount Global Price Performance

Shares of NASDAQ PARA traded down $0.06 during midday trading on Monday, hitting $10.90. The company had a trading volume of 18,406,330 shares, compared to its average volume of 19,191,787. The firm has a market capitalization of $7.11 billion, a price-to-earnings ratio of -10.75, a price-to-earnings-growth ratio of 0.41 and a beta of 1.77. Paramount Global has a twelve month low of $10.12 and a twelve month high of $24.00. The business has a 50-day simple moving average of $11.75 and a two-hundred day simple moving average of $12.91. 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 (NASDAQ:PARA - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. The firm had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.80 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. Paramount Global's quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. Equities research analysts anticipate that Paramount Global will post 1.17 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global's dividend payout ratio (DPR) is presently -19.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PARA shares. JPMorgan Chase & Co. decreased their price objective on Paramount Global from $13.00 to $12.00 and set an "underweight" rating for the company in a research note on Thursday, April 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 target price on shares of Paramount Global in a research report on Thursday, February 29th. Wolfe Research raised 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 research note on Tuesday, March 26th. Finally, Redburn Atlantic cut shares of Paramount Global from a "neutral" rating to a "sell" rating and cut their target price for the company from $17.00 to $11.00 in a report on Thursday, January 11th. Eight analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.79.

About Paramount Global

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.