Harvey Capital Management Inc. Sells 1,300 Shares of Time Warner Inc. (TWX)
Harvey Capital Management Inc. decreased its holdings in shares of Time Warner Inc. (NYSE:TWX) by 7.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,500 shares of the media conglomerate’s stock after selling 1,300 shares during the period. Harvey Capital Management Inc.’s holdings in Time Warner were worth $1,690,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Norinchukin Bank The increased its stake in Time Warner by 3.9% during the third quarter. Norinchukin Bank The now owns 97,373 shares of the media conglomerate’s stock valued at $9,976,000 after purchasing an additional 3,655 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Time Warner by 1.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 187,186 shares of the media conglomerate’s stock valued at $19,177,000 after purchasing an additional 2,626 shares during the last quarter. Pacer Advisors Inc. increased its stake in Time Warner by 12.0% during the third quarter. Pacer Advisors Inc. now owns 20,260 shares of the media conglomerate’s stock valued at $2,076,000 after purchasing an additional 2,164 shares during the last quarter. Point View Wealth Management Inc. bought a new stake in Time Warner during the third quarter valued at $221,000. Finally, P Schoenfeld Asset Management LP increased its stake in Time Warner by 25.3% during the third quarter. P Schoenfeld Asset Management LP now owns 1,564,383 shares of the media conglomerate’s stock valued at $160,271,000 after purchasing an additional 316,306 shares during the last quarter. Hedge funds and other institutional investors own 77.15% of the company’s stock.
Several research firms have recently commented on TWX. B. Riley restated a “hold” rating and set a $101.00 price target on shares of Time Warner in a research report on Tuesday. BidaskClub upgraded shares of Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Time Warner in a research report on Tuesday, September 26th. Jefferies Group LLC lowered shares of Time Warner from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Tuesday, August 15th. Twenty-three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $102.87.
Time Warner Inc. (NYSE:TWX) traded up $1.85 during trading hours 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. Time Warner Inc. has a 12-month low of $85.88 and a 12-month high of $103.90. The firm has a market capitalization of $68,290.39, a P/E ratio of 14.47, a P/E/G ratio of 1.38 and a beta of 0.98. The company has a quick ratio of 1.26, a current ratio of 1.48 and a debt-to-equity ratio of 0.80.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Thursday, October 26th. The media conglomerate reported $1.82 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.40 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. equities analysts predict that Time Warner Inc. will post 6.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.4025 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $1.61 annualized dividend and a yield of 1.80%. Time Warner’s dividend payout ratio (DPR) is presently 30.73%.
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Time Warner 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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