Cannell Peter B & Co. Inc. Sells 7,150 Shares of Time Warner Inc. (TWX)
Cannell Peter B & Co. Inc. decreased its stake in shares of Time Warner Inc. (NYSE:TWX) by 21.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,825 shares of the media conglomerate’s stock after selling 7,150 shares during the period. Cannell Peter B & Co. Inc.’s holdings in Time Warner were worth $2,646,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in Time Warner by 2.6% during the second quarter. Legal & General Group Plc now owns 3,962,756 shares of the media conglomerate’s stock worth $397,891,000 after buying an additional 99,059 shares in the last quarter. Segantii Capital Management Ltd purchased a new position in Time Warner during the second quarter worth $33,886,000. Blair William & Co. IL increased its position in Time Warner by 27.9% during the second quarter. Blair William & Co. IL now owns 37,132 shares of the media conglomerate’s stock worth $3,728,000 after buying an additional 8,096 shares in the last quarter. State of Wisconsin Investment Board increased its position in Time Warner by 1.3% during the second quarter. State of Wisconsin Investment Board now owns 897,692 shares of the media conglomerate’s stock worth $90,137,000 after buying an additional 11,740 shares in the last quarter. Finally, Whittier Trust Co. increased its position in Time Warner by 3.2% during the third quarter. Whittier Trust Co. now owns 49,180 shares of the media conglomerate’s stock worth $5,038,000 after buying an additional 1,513 shares in the last quarter. 77.15% of the stock is owned by institutional investors.
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Shares of Time Warner Inc. (NYSE TWX) traded up $1.85 during trading on Wednesday, reaching $89.56. The company had a trading volume of 14,425,000 shares, compared to its average volume of 4,734,643. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 1.48. The company has a market capitalization of $68,290.39, a price-to-earnings ratio of 14.47, a P/E/G ratio of 1.38 and a beta of 0.98. Time Warner Inc. has a 1 year low of $85.88 and a 1 year high of $103.90.
Time Warner (NYSE:TWX) last announced its quarterly earnings data 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. The firm had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.40 billion. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. Time Warner’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.83 earnings per share. equities analysts anticipate that Time Warner Inc. will post 6.2 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, October 6th. Time Warner’s dividend payout ratio (DPR) is presently 30.73%.
A number of equities research analysts have recently commented on the company. Cowen and Company reaffirmed a “hold” rating and issued a $107.50 price objective on shares of Time Warner in a research report on Thursday, October 12th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $84.00 price objective (down previously from $100.00) on shares of Time Warner in a research report on Tuesday. Credit Suisse Group downgraded Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price objective for the company. in a research report on Monday, September 18th. Jefferies Group LLC downgraded Time Warner from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Thursday, August 3rd. Finally, B. Riley reaffirmed a “neutral” rating and issued a $101.00 price objective (down previously from $105.00) on shares of Time Warner in a research report on Friday, November 3rd. Twenty-three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $102.87.
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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