IFC Holdings Incorporated FL Has $2.42 Million Stake in Time Warner Inc. (TWX)
IFC Holdings Incorporated FL cut its stake in Time Warner Inc. (NYSE:TWX) by 5.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,175 shares of the media conglomerate’s stock after selling 1,404 shares during the period. IFC Holdings Incorporated FL’s holdings in Time Warner were worth $2,423,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of TWX. Assetmark Inc. raised its position in shares of Time Warner by 10.0% in the first quarter. Assetmark Inc. now owns 2,628 shares of the media conglomerate’s stock worth $257,000 after buying an additional 239 shares during the period. Stevens First Principles Investment Advisors raised its position in shares of Time Warner by 52.9% in the first quarter. Stevens First Principles Investment Advisors now owns 2,127 shares of the media conglomerate’s stock worth $208,000 after buying an additional 736 shares during the period. Lazard Asset Management LLC raised its position in shares of Time Warner by 18.3% in the first quarter. Lazard Asset Management LLC now owns 292,795 shares of the media conglomerate’s stock worth $28,608,000 after buying an additional 45,243 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Time Warner by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 379,820 shares of the media conglomerate’s stock worth $37,113,000 after buying an additional 28,153 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in shares of Time Warner by 2.4% in the first quarter. Stratos Wealth Partners LTD. now owns 4,746 shares of the media conglomerate’s stock worth $464,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 79.27% of the company’s stock.
Time Warner Inc. (TWX) opened at 101.10 on Friday. The firm has a market capitalization of $78.64 billion, a P/E ratio of 18.76 and a beta of 1.05. The stock has a 50 day moving average price of $101.34 and a 200-day moving average price of $99.39. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34.
Time Warner (NYSE:TWX) last posted its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The company had revenue of $7.33 billion for 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%. Time Warner’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. Analysts anticipate that Time Warner Inc. will post $6.10 EPS for the current fiscal year.
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A number of brokerages have weighed in on TWX. Royal Bank Of Canada set a $108.00 price target on Time Warner and gave the company a “hold” rating in a research report on Monday, June 12th. Jefferies Group LLC lowered Time Warner from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a research note on Thursday, August 3rd. Morgan Stanley reissued an “overweight” rating on shares of Time Warner in a research note on Thursday, July 6th. BMO Capital Markets reissued a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research note on Friday, May 19th. Finally, BidaskClub raised Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $102.25.
In other Time Warner news, CFO Howard M. Averill bought 255 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, with a total value of $25,415.85. Following the completion of the purchase, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by company insiders.
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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