Stephens Inc. AR boosted its position in Time Warner Inc. (NYSE:TWX) by 72.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,058 shares of the media conglomerate’s stock after buying an additional 4,213 shares during the period. Stephens Inc. AR’s holdings in Time Warner were worth $983,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Dodge & Cox purchased a new stake in shares of Time Warner during the fourth quarter worth about $3,124,831,000. Norges Bank purchased a new stake in shares of Time Warner during the fourth quarter worth about $591,981,000. Empyrean Capital Partners LP purchased a new stake in shares of Time Warner during the fourth quarter worth about $123,616,000. Bank of Montreal Can raised its stake in shares of Time Warner by 75.9% in the first quarter. Bank of Montreal Can now owns 2,611,753 shares of the media conglomerate’s stock worth $255,195,000 after buying an additional 1,126,854 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Time Warner during the fourth quarter worth about $87,387,000. Hedge funds and other institutional investors own 80.02% of the company’s stock.
Time Warner Inc. (TWX) traded down 0.25% during mid-day trading on Tuesday, hitting $102.17. 3,485,774 shares of the company’s stock were exchanged. The stock has a market capitalization of $79.39 billion, a P/E ratio of 18.94 and a beta of 1.05. The firm has a 50 day moving average of $100.48 and a 200 day moving average of $98.63. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34.
Time Warner (NYSE:TWX) last issued its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Time Warner’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts forecast that Time Warner Inc. will post $6.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, July 6th. Time Warner’s payout ratio is 29.98%.
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TWX has been the topic of a number of analyst reports. MKM Partners restated a “neutral” rating and set a $107.50 target price (up previously from $90.00) on shares of Time Warner in a research report on Monday, May 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $108.00 price target on shares of Time Warner in a research note on Monday, April 17th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $105.00 price target on shares of Time Warner in a research note on Wednesday, May 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a research note on Thursday, July 6th. Finally, Pivotal Research downgraded shares of Time Warner from a “buy” rating to a “hold” rating and increased their price target for the stock from $100.00 to $107.50 in a research note on Thursday, April 20th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Time Warner presently has an average rating of “Hold” and an average price target of $102.25.
In other news, CFO Howard M. Averill bought 255 shares of the stock in a transaction dated Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate insiders.
Time Warner Company Profile
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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