Meeder Asset Management Inc. cut its holdings in Time Warner Inc. (NYSE:TWX) by 85.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,252 shares of the media conglomerate’s stock after selling 31,398 shares during the period. Meeder Asset Management Inc.’s holdings in Time Warner were worth $538,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Time Warner by 2.3% in the second quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock valued at $5,004,741,000 after purchasing an additional 1,116,818 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Time Warner by 4.0% in the second quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock valued at $4,470,656,000 after purchasing an additional 1,696,681 shares during the last quarter. State Street Corp raised its holdings in shares of Time Warner by 2.1% in the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock valued at $3,199,990,000 after purchasing an additional 688,860 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Time Warner by 0.4% in the second quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock valued at $1,239,484,000 after purchasing an additional 51,596 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Time Warner by 0.6% in the first quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock valued at $1,165,905,000 after purchasing an additional 68,625 shares during the last quarter. Institutional investors own 79.11% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Cowen and Company restated a “hold” rating and set a $107.50 target price on shares of Time Warner in a report on Thursday, October 12th. Jefferies Group LLC downgraded shares of Time Warner from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a report on Thursday, August 3rd. Credit Suisse Group downgraded shares of Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 target price on the stock. in a report on Monday, September 18th. B. Riley restated a “neutral” rating and set a $101.00 target price (down from $105.00) on shares of Time Warner in a report on Friday, November 3rd. Finally, Deutsche Bank AG restated a “buy” rating and set a $99.00 target price on shares of Time Warner in a report on Friday. Twenty-four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $104.02.
Time Warner Inc. (NYSE:TWX) traded up $3.55 on Friday, reaching $90.60. 26,863,602 shares of the company traded hands, compared to its average volume of 4,485,041. Time Warner Inc. has a 1-year low of $85.77 and a 1-year high of $103.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.48 and a quick ratio of 1.26. The company has a market capitalization of $67,776.52, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.37 and a beta of 0.98.
Time Warner (NYSE:TWX) last posted its quarterly earnings data on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. Time Warner had a net margin of 13.59% and a return on equity of 18.57%. The business had revenue of $7.60 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter in the prior year, the business posted $1.83 earnings per share. Time Warner’s revenue was up 6.0% compared to the same quarter last year. sell-side analysts anticipate that Time Warner Inc. will post 6.2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a dividend of $0.4025 per share. The ex-dividend date was Friday, October 6th. This represents a $1.61 annualized dividend and a yield of 1.78%. Time Warner’s dividend payout ratio is 30.73%.
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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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