Tocqueville Asset Management L.P. trimmed its holdings in shares of Time Warner Inc (NYSE:TWX) by 94.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,660 shares of the media conglomerate’s stock after selling 44,200 shares during the period. Tocqueville Asset Management L.P.’s holdings in Time Warner were worth $243,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of Time Warner by 1.3% in the 4th quarter. BlackRock Inc. now owns 45,517,104 shares of the media conglomerate’s stock valued at $4,163,450,000 after buying an additional 564,977 shares during the period. Geode Capital Management LLC increased its stake in shares of Time Warner by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 8,137,119 shares of the media conglomerate’s stock valued at $742,723,000 after buying an additional 260,054 shares during the period. Independent Franchise Partners LLP increased its stake in shares of Time Warner by 1.7% in the 4th quarter. Independent Franchise Partners LLP now owns 6,878,075 shares of the media conglomerate’s stock valued at $629,137,000 after buying an additional 112,430 shares during the period. Amundi Pioneer Asset Management Inc. increased its stake in shares of Time Warner by 57.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,407,088 shares of the media conglomerate’s stock valued at $494,586,000 after buying an additional 1,962,423 shares during the period. Finally, Boston Partners increased its stake in shares of Time Warner by 0.9% in the 4th quarter. Boston Partners now owns 5,140,335 shares of the media conglomerate’s stock valued at $470,187,000 after buying an additional 46,309 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on TWX. Loop Capital began coverage on Time Warner in a research note on Thursday, March 15th. They issued a “buy” rating and a $107.50 target price for the company. UBS raised Time Warner from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.26 to $108.00 in a research note on Monday, March 12th. Zacks Investment Research raised Time Warner from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Tuesday, February 6th. Barclays lifted their target price on Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, ValuEngine cut Time Warner from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Fourteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $104.61.
In other news, Director William P. Barr sold 4,019 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $97.20, for a total value of $390,646.80. Following the sale, the director now directly owns 44,959 shares in the company, valued at $4,370,014.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.16% of the company’s stock.
TWX stock opened at $95.52 on Friday. 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 stock has a market cap of $74,795.56, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.49 and a beta of 0.88. Time Warner Inc has a 1-year low of $85.88 and a 1-year high of $103.90.
Time Warner (NYSE:TWX) last posted its earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.16. The firm had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.41 billion. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 earnings per share. analysts predict that Time Warner Inc will post 7.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be issued a dividend of $0.4025 per share. The ex-dividend date is Monday, April 9th. This is a positive change from Time Warner’s previous quarterly dividend of $0.32. This represents a $1.61 annualized dividend and a yield of 1.69%. Time Warner’s payout ratio is currently 25.08%.
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Time Warner 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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