Suffolk Capital Management LLC Increases Stake in Time Warner Inc (TWX)

Suffolk Capital Management LLC lifted its holdings in Time Warner Inc (NYSE:TWX) by 2,179.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,006 shares of the media conglomerate’s stock after purchasing an additional 74,584 shares during the quarter. Suffolk Capital Management LLC’s holdings in Time Warner were worth $7,135,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Bank of Nova Scotia Trust Co. bought a new stake in Time Warner during the third quarter worth $102,000. Americafirst Capital Management LLC bought a new stake in Time Warner during the third quarter worth $106,000. Zions Bancorporation raised its position in Time Warner by 698.6% during the third quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock worth $117,000 after acquiring an additional 999 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in Time Warner during the fourth quarter worth $131,000. Finally, Advisory Services Network LLC raised its position in Time Warner by 1.8% during the second quarter. Advisory Services Network LLC now owns 1,439 shares of the media conglomerate’s stock worth $144,000 after acquiring an additional 26 shares in the last quarter. 76.85% of the stock is currently owned by institutional investors and hedge funds.

Time Warner Inc (NYSE:TWX) opened at $95.10 on Friday. The firm has a market cap of $73,725.59, a PE ratio of 14.75, a PEG ratio of 1.27 and a beta of 0.94. Time Warner Inc has a 1 year low of $85.88 and a 1 year high of $103.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 0.91.

Time Warner (NYSE:TWX) last released its quarterly earnings results on Thursday, February 1st. The media conglomerate reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.16. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. The business had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the prior year, the company posted $1.25 earnings per share. Time Warner’s revenue was up 9.1% compared to the same quarter last year. sell-side analysts predict that Time Warner Inc will post 7.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a $0.4025 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.61 annualized dividend and a dividend yield of 1.69%. Time Warner’s dividend payout ratio (DPR) is presently 24.32%.

In related news, CEO Jeffrey L. Bewkes sold 329,478 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were 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 directly owns 855,925 shares in the company, valued at $77,589,601.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah C. Wright sold 4,019 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $93.61, for a total transaction of $376,218.59. Following the completion of the transaction, the director now owns 27,785 shares in the company, valued at $2,600,953.85. The disclosure for this sale can be found here. Insiders sold 360,966 shares of company stock worth $32,745,250 over the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

TWX has been the topic of several analyst reports. ValuEngine lowered shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Thursday, October 26th. Cowen reaffirmed a “hold” rating and set a $102.00 price target on shares of Time Warner in a research report on Friday, October 27th. Royal Bank of Canada reaffirmed a “hold” rating and set a $102.00 price target on shares of Time Warner in a research report on Friday, October 27th. Zacks Investment Research raised shares of Time Warner from a “sell” rating to a “hold” rating and set a $110.00 price target on the stock in a research report on Monday, October 30th. Finally, B. Riley reaffirmed a “neutral” rating and set a $101.00 price target (down from $105.00) on shares of Time Warner in a research report on Friday, November 3rd. Sixteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Time Warner presently has an average rating of “Hold” and an average price target of $104.36.

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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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