Suffolk Capital Management LLC trimmed its holdings in shares of Time Warner Inc. (NYSE:TWX) by 95.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,422 shares of the media conglomerate’s stock after selling 67,472 shares during the quarter. Suffolk Capital Management LLC’s holdings in Time Warner were worth $351,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Legal & General Group Plc lifted its stake in Time Warner by 2.6% during the second quarter. Legal & General Group Plc now owns 3,962,756 shares of the media conglomerate’s stock worth $397,891,000 after purchasing an additional 99,059 shares during the last quarter. Segantii Capital Management Ltd bought a new stake in Time Warner during the second quarter worth about $33,886,000. Blair William & Co. IL lifted its stake in Time Warner by 27.9% during the second quarter. Blair William & Co. IL now owns 37,132 shares of the media conglomerate’s stock worth $3,728,000 after purchasing an additional 8,096 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in Time Warner by 1.3% during the second quarter. State of Wisconsin Investment Board now owns 897,692 shares of the media conglomerate’s stock worth $90,137,000 after purchasing an additional 11,740 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in Time Warner by 3.2% during the third quarter. Whittier Trust Co. now owns 49,180 shares of the media conglomerate’s stock worth $5,038,000 after purchasing an additional 1,513 shares during the last quarter. Institutional investors and hedge funds own 79.11% of the company’s stock.
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Several equities research analysts have issued reports on TWX shares. BidaskClub lowered Time Warner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reissued a “hold” rating and issued a $105.00 target price (up previously from $102.42) on shares of Time Warner in a research note on Sunday, July 30th. Cowen and Company reissued a “hold” rating and issued a $107.50 target price on shares of Time Warner in a research note on Thursday, August 3rd. Barclays PLC lowered Time Warner from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $95.00 to $107.00 in a research note on Friday, August 4th. Finally, Evercore ISI lowered Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 target price for the company. in a research note on Monday, August 7th. Twenty-four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Time Warner has a consensus rating of “Hold” and an average price target of $104.02.
Time Warner Inc. (TWX) traded up $3.55 during trading on Friday, hitting $90.60. The company had a trading volume of 26,863,602 shares, compared to its average volume of 11,703,416. 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 stock has a market cap of $70,540.52, a P/E ratio of 14.95, a P/E/G ratio of 1.43 and a beta of 0.98. Time Warner Inc. has a 52 week low of $85.77 and a 52 week high of $103.90.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.23. The company had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.40 billion. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 EPS. research analysts predict that Time Warner Inc. will post 6.2 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a $0.4025 dividend. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.78%. Time Warner’s payout ratio is currently 30.73%.
Time Warner Company Profile
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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