First Manhattan Co. lowered its position in shares of Time Warner Inc (NYSE:TWX) by 13.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 345,530 shares of the media conglomerate’s stock after selling 55,660 shares during the period. First Manhattan Co.’s holdings in Time Warner were worth $31,605,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Nova Scotia Trust Co. bought a new position in Time Warner during the 3rd quarter worth $102,000. Americafirst Capital Management LLC bought a new position in Time Warner during the 3rd quarter worth $106,000. Zions Bancorporation increased its stake in Time Warner by 698.6% during the 3rd quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock worth $117,000 after acquiring an additional 999 shares during the period. Harfst & Associates Inc. increased its stake in shares of Time Warner by 31.6% in the 2nd quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock valued at $120,000 after purchasing an additional 288 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Time Warner in the 2nd quarter valued at $127,000. Institutional investors own 76.85% of the company’s stock.
Several equities analysts have recently issued reports on TWX shares. Deutsche Bank reiterated a “buy” rating and issued a $99.00 price target on shares of Time Warner in a research note on Friday, November 10th. Zacks Investment Research downgraded Time Warner from a “hold” rating to a “sell” rating in a report on Friday, January 12th. Loop Capital cut their target price on Time Warner from $107.50 to $102.00 and set a “hold” rating on the stock in a report on Thursday, November 9th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $84.00 target price (down from $100.00) on shares of Time Warner in a report on Tuesday, November 21st. Finally, Cowen reaffirmed a “hold” rating and set a $102.00 target price on shares of Time Warner in a report on Friday, October 27th. Sixteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Time Warner presently has an average rating of “Hold” and a consensus price target of $104.36.
In other Time Warner news, insider Olaf Olafsson sold 23,450 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total value of $29,867,180.70. Following the sale, the chief executive officer now owns 855,925 shares in the company, valued at approximately $77,589,601.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 360,966 shares of company stock worth $32,745,250. 0.16% of the stock is owned by company insiders.
Shares of Time Warner Inc (NYSE TWX) traded up $0.18 during midday trading on Wednesday, hitting $94.52. The stock had a trading volume of 3,200,000 shares, compared to its average volume of 5,320,000. Time Warner Inc has a 12-month low of $85.88 and a 12-month high of $103.90. The stock has a market cap of $73,590.00, a P/E ratio of 17.41, a PEG ratio of 1.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 0.91.
Time Warner (NYSE:TWX) last announced its earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.16. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. The firm had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same quarter in the previous year, the business earned $1.25 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. research analysts expect that Time Warner Inc will post 7.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a $0.4025 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $1.61 annualized dividend and a yield of 1.70%. Time Warner’s payout ratio is 29.65%.
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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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