Duff & Phelps Investment Management Co. Cuts Stake in Time Warner Inc. (TWX)
Duff & Phelps Investment Management Co. cut its position in Time Warner Inc. (NYSE:TWX) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,718 shares of the media conglomerate’s stock after selling 600 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Time Warner were worth $875,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in TWX. Waldron LP raised its stake in Time Warner by 137.7% in the first quarter. Waldron LP now owns 5,340 shares of the media conglomerate’s stock valued at $508,000 after buying an additional 3,093 shares in the last quarter. Alexandria Capital LLC raised its stake in Time Warner by 1.2% in the first quarter. Alexandria Capital LLC now owns 3,509 shares of the media conglomerate’s stock valued at $343,000 after buying an additional 43 shares in the last quarter. Mycio Wealth Partners LLC raised its stake in Time Warner by 12.1% in the first quarter. Mycio Wealth Partners LLC now owns 4,476 shares of the media conglomerate’s stock valued at $437,000 after buying an additional 484 shares in the last quarter. Affinity Investment Advisors LLC purchased a new stake in Time Warner during the first quarter valued at approximately $274,000. Finally, Narwhal Capital Management raised its stake in Time Warner by 5.8% in the first quarter. Narwhal Capital Management now owns 19,015 shares of the media conglomerate’s stock valued at $1,858,000 after buying an additional 1,035 shares in the last quarter. Hedge funds and other institutional investors own 79.27% of the company’s stock.
Time Warner Inc. (TWX) opened at 101.34 on Thursday. The firm’s 50-day moving average is $101.22 and its 200-day moving average is $99.25. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The stock has a market capitalization of $78.82 billion, a P/E ratio of 18.80 and a beta of 1.05.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 EPS. On average, equities research analysts predict that Time Warner Inc. will post $6.10 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a $0.4025 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.61 annualized dividend and a yield of 1.59%. Time Warner’s dividend payout ratio (DPR) is currently 29.98%.
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TWX has been the topic of several analyst reports. Morgan Stanley restated an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. BMO Capital Markets restated a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Friday, May 19th. Rosenblatt Securities restated a “neutral” rating and set a $105.00 price target on shares of Time Warner in a research report on Wednesday, May 3rd. Zacks Investment Research lowered shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Jefferies Group LLC restated a “hold” rating and set a $105.00 price target (up previously from $102.42) on shares of Time Warner in a research report on Sunday, July 30th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $102.25.
In related news, CFO Howard M. Averill bought 255 shares of Time Warner 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 acquisition, the chief financial officer now owns 63,399 shares in the company, valued at $6,318,978.33. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by insiders.
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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