Cumberland Partners Ltd trimmed its holdings in Time Warner Inc. (NYSE:TWX) by 18.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,483 shares of the media conglomerate’s stock after selling 12,650 shares during the period. Cumberland Partners Ltd’s holdings in Time Warner were worth $5,889,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Time Warner by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock valued at $5,004,741,000 after buying an additional 1,116,818 shares during the period. BlackRock Inc. raised its holdings in shares of Time Warner by 4.0% during the 2nd quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock valued at $4,470,656,000 after buying an additional 1,696,681 shares during the period. State Street Corp raised its holdings in shares of Time Warner by 2.1% during the 1st quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock valued at $3,199,990,000 after buying an additional 688,860 shares during the period. Franklin Resources Inc. raised its holdings in shares of Time Warner by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock valued at $1,239,484,000 after buying an additional 51,596 shares during the period. Finally, FMR LLC raised its holdings in shares of Time Warner by 0.6% during the 1st quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock valued at $1,165,905,000 after buying an additional 68,625 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.
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Time Warner Inc. (TWX) opened at $88.72 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 1.48. The firm has a market capitalization of $68,850.00, a PE ratio of 14.44, a P/E/G ratio of 1.38 and a beta of 0.98. Time Warner Inc. has a 12-month low of $85.88 and a 12-month high of $103.90.
Time Warner (NYSE:TWX) last issued its earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.23. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. The business had revenue of $7.60 billion during the quarter, compared to analysts’ expectations of $7.40 billion. During the same period in the prior year, the firm posted $1.83 EPS. Time Warner’s quarterly revenue was up 6.0% compared to the same quarter last year. analysts forecast that Time Warner Inc. will post 6.2 earnings per share for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 1.81%. Time Warner’s dividend payout ratio (DPR) is presently 30.61%.
TWX has been the subject of several research reports. raised Time Warner from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $102.00 to $103.00 in a research note on Wednesday. BidaskClub raised Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Time Warner in a research report on Tuesday, September 26th. Jefferies Group LLC lowered Time Warner from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $108.00 target price on shares of Time Warner in a research report on Tuesday, August 15th. Twenty-two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $103.73.
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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