Atalanta Sosnoff Capital LLC Lowers Holdings in Time Warner Inc (TWX)
Atalanta Sosnoff Capital LLC lowered its position in shares of Time Warner Inc (NYSE:TWX) by 99.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,360 shares of the media conglomerate’s stock after selling 307,223 shares during the quarter. Atalanta Sosnoff Capital LLC’s holdings in Time Warner were worth $216,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Whittier Trust Co. lifted its holdings in shares of Time Warner by 3.2% in the 3rd quarter. Whittier Trust Co. now owns 49,180 shares of the media conglomerate’s stock valued at $5,038,000 after buying an additional 1,513 shares during the period. Longfellow Investment Management Co. LLC acquired a new position in shares of Time Warner in the 3rd quarter valued at about $12,294,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Time Warner by 10.7% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 373,956 shares of the media conglomerate’s stock valued at $38,312,000 after buying an additional 36,200 shares during the period. Swiss National Bank lifted its holdings in shares of Time Warner by 1.9% in the 3rd quarter. Swiss National Bank now owns 3,052,408 shares of the media conglomerate’s stock valued at $312,719,000 after buying an additional 56,000 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Time Warner by 20.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,880 shares of the media conglomerate’s stock valued at $194,130,000 after buying an additional 319,196 shares during the period. 77.83% of the stock is owned by institutional investors.
In other Time Warner news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $77,589,601.25. The disclosure for this sale can be found here. 0.16% of the stock is owned by insiders.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. The firm had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the previous year, the business earned $1.83 EPS. Time Warner’s revenue for the quarter was up 6.0% compared to the same quarter last year. research analysts forecast that Time Warner Inc will post 6.2 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.4025 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.61 annualized dividend and a dividend yield of 1.74%. Time Warner’s dividend payout ratio is presently 30.61%.
TWX has been the subject of several analyst reports. Royal Bank of Canada reissued a “hold” rating and issued a $102.00 price objective on shares of Time Warner in a report on Friday, October 27th. Zacks Investment Research raised Time Warner from a “sell” rating to a “hold” rating in a report on Saturday. B. Riley reissued a “hold” rating and issued a $101.00 price objective on shares of Time Warner in a report on Tuesday, November 21st. BMO Capital Markets reissued a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a report on Wednesday, September 13th. Finally, KeyCorp reissued a “hold” rating on shares of Time Warner in a report on Tuesday, October 17th. Twenty-one analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $105.13.
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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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