CHURCHILL MANAGEMENT Corp lifted its position in Time Warner Inc (NYSE:TWX) by 38.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,342 shares of the media conglomerate’s stock after purchasing an additional 4,562 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Time Warner were worth $1,495,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. IHT Wealth Management LLC grew its holdings in shares of Time Warner by 98.0% in the second quarter. IHT Wealth Management LLC now owns 808 shares of the media conglomerate’s stock valued at $335,000 after purchasing an additional 400 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of Time Warner by 2.1% in the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock valued at $100,000 after purchasing an additional 20 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in Time Warner in the third quarter valued at about $102,000. Americafirst Capital Management LLC acquired a new position in Time Warner in the third quarter valued at about $106,000. Finally, Zions Bancorporation lifted its position in Time Warner by 698.6% in the third quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock valued at $117,000 after buying an additional 999 shares during the last quarter. 77.83% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on TWX. Cowen reaffirmed a “hold” rating and issued a $107.50 target price on shares of Time Warner in a research report on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $105.00 target price on shares of Time Warner in a research report on Wednesday, October 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of Time Warner in a research report on Tuesday, September 26th. Credit Suisse Group cut shares of Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 target price on the stock. in a research report on Monday, September 18th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $108.00 target price on shares of Time Warner in a research report on Wednesday, October 18th. Twenty equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $105.13.
In other Time Warner news, insider Olaf Olafsson sold 23,450 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $90.03, for a total value of $2,111,203.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the completion of the transaction, the chief executive officer now owns 855,925 shares in the company, valued at $77,589,601.25. The disclosure for this sale can be found here. 0.16% of the stock is currently owned by corporate insiders.
Shares of Time Warner Inc (NYSE:TWX) opened at $91.89 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. Time Warner Inc has a one year low of $85.88 and a one year high of $103.90. The firm has a market cap of $71,540.00, a P/E ratio of 17.47, a P/E/G ratio of 1.41 and a beta of 0.95.
Time Warner (NYSE:TWX) last released its earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.40 billion. During the same period in the prior year, the firm earned $1.83 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. analysts predict that Time Warner Inc will post 6.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a dividend of $0.4025 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.75%. Time Warner’s payout ratio is 30.61%.
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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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