Sit Investment Associates Inc. Decreases Holdings in Time Warner Inc (TWX)

Sit Investment Associates Inc. trimmed its position in shares of Time Warner Inc (NYSE:TWX) by 22.6% during the fourth quarter, HoldingsChannel reports. The firm owned 27,205 shares of the media conglomerate’s stock after selling 7,925 shares during the quarter. Sit Investment Associates Inc.’s holdings in Time Warner were worth $2,488,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Whittier Trust Co. increased its position in shares of Time Warner by 3.2% during the third quarter. Whittier Trust Co. now owns 49,180 shares of the media conglomerate’s stock worth $5,038,000 after acquiring an additional 1,513 shares during the period. Longfellow Investment Management Co. LLC purchased a new stake in shares of Time Warner during the third quarter worth $12,294,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Time Warner by 10.7% during the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 373,956 shares of the media conglomerate’s stock worth $38,312,000 after acquiring an additional 36,200 shares during the period. Swiss National Bank increased its position in shares of Time Warner by 1.9% during the third quarter. Swiss National Bank now owns 3,052,408 shares of the media conglomerate’s stock worth $312,719,000 after acquiring an additional 56,000 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Time Warner by 20.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,880 shares of the media conglomerate’s stock worth $194,130,000 after acquiring an additional 319,196 shares during the period. Institutional investors own 77.83% of the company’s stock.

Time Warner Inc (NYSE TWX) opened at $92.05 on Friday. The company has a market capitalization of $71,670.00, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.39 and a beta of 0.95. The company has a quick ratio of 1.26, a current ratio of 1.48 and a debt-to-equity ratio of 0.80. Time Warner Inc has a twelve month low of $85.88 and a twelve month high of $103.90.

Time Warner (NYSE:TWX) last posted its earnings results on Thursday, October 26th. The media conglomerate reported $1.82 EPS for the quarter, beating the consensus estimate of $1.59 by $0.23. The firm had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.40 billion. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. Time Warner’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.83 earnings per share. equities analysts expect that Time Warner Inc will post 6.2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Tuesday, January 9th. Time Warner’s dividend payout ratio (DPR) is presently 30.61%.

In related news, CEO Jeffrey L. Bewkes sold 329,478 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total value of $29,867,180.70. Following the transaction, the chief executive officer now owns 855,925 shares of the company’s stock, valued at $77,589,601.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Olaf Olafsson sold 23,450 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $90.03, for a total transaction of $2,111,203.50. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.

A number of analysts have recently weighed in on TWX shares. Deutsche Bank reaffirmed a “buy” rating and set a $99.00 price objective on shares of Time Warner in a research report on Friday, November 10th. Loop Capital cut their price objective on Time Warner from $107.50 to $102.00 and set a “hold” rating on the stock in a research report on Thursday, November 9th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $84.00 price objective (down previously from $100.00) on shares of Time Warner in a research report on Tuesday, November 21st. Cowen reaffirmed a “hold” rating and set a $102.00 price objective on shares of Time Warner in a research report on Friday, October 27th. Finally, Barclays upped their price objective on Time Warner from $92.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and nine have issued a buy rating to the stock. Time Warner currently has an average rating of “Hold” and a consensus target price of $105.13.

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About Time Warner

Time Warner Inc is a media and entertainment company. The Company operates through three segments: Turner, which consists of cable networks and digital media properties; Home Box Office, which consists of premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.

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Institutional Ownership by Quarter for Time Warner (NYSE:TWX)

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