DnB Asset Management AS Has $13.73 Million Position in Time Warner Inc. (TWX)
DnB Asset Management AS increased its position in shares of Time Warner Inc. (NYSE:TWX) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,689 shares of the media conglomerate’s stock after buying an additional 1,800 shares during the period. DnB Asset Management AS’s holdings in Time Warner were worth $13,725,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. First Bank & Trust raised its stake in Time Warner by 0.3% in the first quarter. First Bank & Trust now owns 3,396 shares of the media conglomerate’s stock worth $332,000 after buying an additional 9 shares during the period. Park National Corp OH raised its stake in Time Warner by 0.6% in the second quarter. Park National Corp OH now owns 2,467 shares of the media conglomerate’s stock worth $248,000 after buying an additional 14 shares during the period. Integrated Wealth Management raised its stake in Time Warner by 0.8% in the first quarter. Integrated Wealth Management now owns 2,132 shares of the media conglomerate’s stock worth $209,000 after buying an additional 17 shares during the period. Carroll Financial Associates Inc. raised its stake in Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock worth $122,000 after buying an additional 33 shares during the period. Finally, Connecticut Wealth Management LLC raised its stake in Time Warner by 0.8% in the first quarter. Connecticut Wealth Management LLC now owns 4,199 shares of the media conglomerate’s stock worth $413,000 after buying an additional 33 shares during the period. 80.02% of the stock is owned by hedge funds and other institutional investors.
Shares of Time Warner Inc. (NYSE:TWX) traded down 0.21% during trading on Thursday, hitting $102.07. The stock had a trading volume of 791,462 shares. The company has a market cap of $79.39 billion, a P/E ratio of 18.94 and a beta of 1.05. Time Warner Inc. has a 12 month low of $74.27 and a 12 month high of $103.34. The stock has a 50-day moving average price of $100.71 and a 200 day moving average price of $98.80.
Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. The firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. Equities analysts expect that Time Warner Inc. will post $6.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, July 6th. Time Warner’s dividend payout ratio (DPR) is currently 29.98%.
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A number of analysts have recently weighed in on the company. BidaskClub lowered Time Warner from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Barclays PLC lowered Time Warner from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $95.00 to $107.00 in a research note on Friday, August 4th. MKM Partners reissued a “neutral” rating and set a $107.50 price objective (up previously from $90.00) on shares of Time Warner in a research note on Monday, May 1st. Royal Bank Of Canada reissued a “hold” rating and set a $108.00 price objective on shares of Time Warner in a research note on Friday, July 14th. Finally, Evercore ISI lowered Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective for the company. in a research note on Monday. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Time Warner currently has an average rating of “Hold” and an average target price of $102.25.
In related news, CFO Howard M. Averill acquired 255 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the purchase, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.
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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