Standard Life Aberdeen plc cut its stake in Time Warner Inc (NYSE:TWX) by 60.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 853,775 shares of the media conglomerate’s stock after selling 1,296,258 shares during the quarter. Standard Life Aberdeen plc owned 0.11% of Time Warner worth $78,198,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Cheyne Capital Management UK LLP increased its stake in Time Warner by 29.9% during the 4th quarter. Cheyne Capital Management UK LLP now owns 263,513 shares of the media conglomerate’s stock worth $24,135,000 after purchasing an additional 60,600 shares in the last quarter. Whittier Trust Co. increased its stake in Time Warner by 3.2% during the 3rd 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 in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Time Warner by 10.7% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 373,956 shares of the media conglomerate’s stock worth $38,312,000 after purchasing an additional 36,200 shares in the last quarter. Swiss National Bank increased its stake in Time Warner by 1.9% during the 3rd quarter. Swiss National Bank now owns 3,052,408 shares of the media conglomerate’s stock worth $312,719,000 after purchasing an additional 56,000 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Time Warner by 20.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,894,880 shares of the media conglomerate’s stock worth $194,130,000 after purchasing an additional 319,196 shares in the last quarter. 78.66% of the stock is owned by institutional investors.
A number of analysts recently issued reports on TWX shares. Deutsche Bank reissued a “buy” rating and set a $99.00 target price on shares of Time Warner in a research note on Friday, November 10th. Zacks Investment Research cut Time Warner from a “hold” rating to a “sell” rating in a research note on Friday, January 12th. Loop Capital lowered their target price on Time Warner from $107.50 to $102.00 and set a “hold” rating for the company in a research note on Thursday, November 9th. Wells Fargo & Co reissued a “market perform” rating and set a $84.00 target price (down from $100.00) on shares of Time Warner in a research note on Tuesday, November 21st. Finally, Pivotal Research reissued a “buy” rating and set a $108.00 target price (up from $103.00) on shares of Time Warner in a research note on Tuesday, January 9th. Sixteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $104.36.
Time Warner Inc (NYSE:TWX) opened at $94.37 on Friday. Time Warner Inc has a 12-month low of $85.88 and a 12-month high of $103.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.91 and a current ratio of 1.08. The firm has a market capitalization of $73,944.00, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.27 and a beta of 0.94.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Thursday, February 1st. The media conglomerate reported $1.60 EPS for the quarter, beating the consensus estimate of $1.44 by $0.16. The company had revenue of $8.61 billion during the quarter, compared to the consensus estimate of $8.41 billion. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. sell-side analysts expect that Time Warner Inc will post 7.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Tuesday, January 9th. Time Warner’s payout ratio is presently 24.32%.
In other news, insider Olaf Olafsson sold 23,450 shares of the stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total value of $2,111,203.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $29,867,180.70. Following the completion of the sale, the chief executive officer now directly owns 855,925 shares of the company’s stock, valued at approximately $77,589,601.25. The disclosure for this sale can be found here. In the last three months, insiders sold 360,966 shares of company stock valued at $32,745,250. 0.16% of the stock is currently owned by insiders.
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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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