Sound Point Capital Management LP acquired a new position in Time Warner Inc (NYSE:TWX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 120,912 shares of the media conglomerate’s stock, valued at approximately $11,060,000. Time Warner comprises about 2.2% of Sound Point Capital Management LP’s holdings, making the stock its 12th largest holding.
Several other institutional investors have also recently modified their holdings of TWX. Northwestern Mutual Wealth Management Co. grew its position in Time Warner by 1.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 31,507 shares of the media conglomerate’s stock worth $2,882,000 after purchasing an additional 544 shares during the last quarter. Fragasso Group Inc. lifted its stake in Time Warner by 4.5% during the 3rd quarter. Fragasso Group Inc. now owns 13,393 shares of the media conglomerate’s stock valued at $1,363,000 after acquiring an additional 573 shares during the period. Summit X LLC lifted its stake in Time Warner by 23.5% during the 4th quarter. Summit X LLC now owns 3,020 shares of the media conglomerate’s stock valued at $278,000 after acquiring an additional 575 shares during the period. HL Financial Services LLC lifted its stake in Time Warner by 18.6% during the 4th quarter. HL Financial Services LLC now owns 4,002 shares of the media conglomerate’s stock valued at $366,000 after acquiring an additional 628 shares during the period. Finally, ZWJ Investment Counsel Inc. lifted its stake in shares of Time Warner by 18.6% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 4,310 shares of the media conglomerate’s stock valued at $394,000 after purchasing an additional 677 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Deborah C. Wright sold 4,019 shares of Time Warner stock in a transaction on Monday, February 12th. The shares were sold at an average price of $93.61, for a total value of $376,218.59. Following the transaction, the director now directly owns 27,785 shares in the company, valued at approximately $2,600,953.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.16% of the company’s stock.
Shares of Time Warner stock opened at $95.52 on Friday. The company has a market capitalization of $75,169.89, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.50 and a beta of 0.88. Time Warner Inc has a 52 week low of $85.88 and a 52 week 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.
Time Warner (NYSE:TWX) last announced its earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.16. The business had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.41 billion. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. analysts anticipate that Time Warner Inc will post 7.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given 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 dividend on an annualized basis and a dividend yield of 1.69%. Time Warner’s dividend payout ratio (DPR) is 25.08%.
Several equities analysts recently issued reports on TWX shares. Wells Fargo reiterated a “market perform” rating and issued a $98.00 target price (up from $84.00) on shares of Time Warner in a research note on Thursday, January 4th. Guggenheim restated a “buy” rating on shares of Time Warner in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Time Warner from a “sell” rating to a “hold” rating in a research report on Saturday, January 6th. Pivotal Research reaffirmed a “buy” rating and set a $108.00 target price (up previously from $103.00) on shares of Time Warner in a report on Tuesday, January 9th. Finally, Barclays set a $100.00 target price on shares of Time Warner and gave the stock a “hold” rating in a report on Tuesday, January 23rd. Fourteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $104.61.
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Time Warner Company 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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