Gotham Asset Management LLC raised its stake in shares of Time Warner Inc. (NYSE:TWX) by 50.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,696 shares of the media conglomerate’s stock after buying an additional 98,221 shares during the period. Gotham Asset Management LLC’s holdings in Time Warner were worth $28,502,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in TWX. First Bank & Trust raised its stake in shares of Time Warner by 0.3% in the first quarter. First Bank & Trust now owns 3,396 shares of the media conglomerate’s stock valued at $332,000 after buying an additional 9 shares during the last quarter. Stillwater Investment Management LLC raised its stake in shares of Time Warner by 0.4% in the first quarter. Stillwater Investment Management LLC now owns 2,379 shares of the media conglomerate’s stock valued at $232,000 after buying an additional 10 shares during the last quarter. Integrated Wealth Management raised its stake in shares of Time Warner by 0.8% in the first quarter. Integrated Wealth Management now owns 2,132 shares of the media conglomerate’s stock valued at $209,000 after buying an additional 17 shares during the last quarter. Carroll Financial Associates Inc. raised its stake in shares of Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 33 shares during the last quarter. Finally, Connecticut Wealth Management LLC raised its stake in shares of Time Warner by 0.8% in the first quarter. Connecticut Wealth Management LLC now owns 4,199 shares of the media conglomerate’s stock valued at $413,000 after buying an additional 33 shares during the last quarter. Institutional investors own 78.76% of the company’s stock.
Shares of Time Warner Inc. (TWX) opened at 101.19 on Friday. Time Warner Inc. has a 52-week low of $74.27 and a 52-week high of $103.34. The firm has a 50-day moving average price of $101.16 and a 200-day moving average price of $99.06. The stock has a market capitalization of $78.71 billion, a P/E ratio of 18.77 and a beta of 1.05.
Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.29 EPS. On average, analysts predict that Time Warner Inc. will post $6.10 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a dividend of $0.4025 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.59%. Time Warner’s dividend payout ratio is presently 29.98%.
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Several brokerages recently commented on TWX. BidaskClub lowered Time Warner from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Barclays PLC lowered Time Warner from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $95.00 to $107.00 in a research report on Friday, August 4th. Royal Bank Of Canada restated a “hold” rating and set a $108.00 target price on shares of Time Warner in a research report on Friday, July 14th. 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. Finally, Evercore ISI lowered Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 target price on the stock. in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $102.25.
In related news, CFO Howard M. Averill bought 255 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was acquired at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the purchase, the chief financial officer now owns 63,399 shares in the company, valued at $6,318,978.33. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.
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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