Investment Centers of America Inc. raised its position in Time Warner Inc. (NYSE:TWX) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,358 shares of the media conglomerate’s stock after buying an additional 91 shares during the period. Investment Centers of America Inc.’s holdings in Time Warner were worth $331,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its position in Time Warner by 10.0% in the first quarter. Assetmark Inc. now owns 2,628 shares of the media conglomerate’s stock worth $257,000 after buying an additional 239 shares during the period. Stevens First Principles Investment Advisors raised its position in Time Warner by 52.9% in the first quarter. Stevens First Principles Investment Advisors now owns 2,127 shares of the media conglomerate’s stock worth $208,000 after buying an additional 736 shares during the period. Lazard Asset Management LLC raised its position in Time Warner by 18.3% in the first quarter. Lazard Asset Management LLC now owns 292,795 shares of the media conglomerate’s stock worth $28,608,000 after buying an additional 45,243 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in Time Warner by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 379,820 shares of the media conglomerate’s stock worth $37,113,000 after buying an additional 28,153 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in Time Warner by 2.4% in the first quarter. Stratos Wealth Partners LTD. now owns 4,746 shares of the media conglomerate’s stock worth $464,000 after buying an additional 110 shares during the period. 78.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Time Warner Inc. (NYSE TWX) opened at 101.19 on Friday. The stock has a market capitalization of $78.71 billion, a PE ratio of 18.77 and a beta of 1.05. The stock’s 50 day moving average is $101.16 and its 200 day moving average is $99.06. Time Warner Inc. has a 52-week low of $74.27 and a 52-week high of $103.34.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the firm posted $1.29 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts expect that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a $0.4025 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.61 annualized dividend and a yield of 1.59%. Time Warner’s dividend payout ratio is presently 29.98%.
A number of brokerages have recently issued reports on TWX. Morgan Stanley restated an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. BMO Capital Markets restated a “hold” rating and set a $108.00 price target on shares of Time Warner in a report on Friday, May 19th. Rosenblatt Securities restated a “neutral” rating and set a $105.00 price target on shares of Time Warner in a report on Wednesday, May 3rd. Zacks Investment Research downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, Jefferies Group LLC restated a “hold” rating and set a $105.00 price target (up previously from $102.42) on shares of Time Warner in a report on Sunday, July 30th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $102.25.
In other news, CFO Howard M. Averill acquired 255 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.16% of the company’s stock.
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.
Receive News & Ratings for Time Warner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Time Warner Inc. and related companies with MarketBeat.com's FREE daily email newsletter.