Time Warner Inc (TWX) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. cut its holdings in Time Warner Inc (NYSE:TWX) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,758 shares of the media conglomerate’s stock after selling 4,291 shares during the period. Pinnacle Associates Ltd.’s holdings in Time Warner were worth $9,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of TWX. Bank of Nova Scotia Trust Co. bought a new stake in Time Warner in the 3rd quarter worth approximately $102,000. Americafirst Capital Management LLC bought a new stake in Time Warner in the 3rd quarter worth approximately $106,000. Zions Bancorporation increased its stake in Time Warner by 698.6% in the 3rd quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock worth $117,000 after acquiring an additional 999 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in Time Warner in the 4th quarter worth approximately $131,000. Finally, Advisory Services Network LLC increased its stake in Time Warner by 1.8% in the 2nd 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 during the last quarter. 78.66% of the stock is currently owned by institutional investors.

In related news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah C. Wright sold 4,019 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $93.61, for a total value of $376,218.59. Following the transaction, the director now owns 27,785 shares of the company’s stock, valued at approximately $2,600,953.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 360,966 shares of company stock valued at $32,745,250. 0.16% of the stock is owned by company insiders.

A number of analysts have issued reports on the company. Moffett Nathanson raised Time Warner from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 31st. Wells Fargo & Co reaffirmed a “market perform” rating and issued a $84.00 price objective (down previously from $100.00) on shares of Time Warner in a research note on Tuesday, November 21st. Barclays lifted their price objective on Time Warner from $100.00 to $101.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Time Warner in a research note on Friday, October 27th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $101.00 price objective (down previously from $105.00) on shares of Time Warner in a research note on Friday, November 3rd. Sixteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Time Warner has a consensus rating of “Hold” and a consensus target price of $104.36.

Time Warner Inc (TWX) opened at $94.37 on Friday. The firm has a market capitalization of $73,944.00, a P/E ratio of 14.79, a PEG ratio of 1.27 and a beta of 0.94. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.64. Time Warner Inc has a 12-month low of $85.88 and a 12-month high of $103.90.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Tuesday, January 9th. Time Warner’s payout ratio is currently 24.32%.

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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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