Narwhal Capital Management Buys 3,200 Shares of Time Warner Inc. (TWX)
Narwhal Capital Management raised its stake in Time Warner Inc. (NYSE:TWX) by 16.8% during the second quarter, Holdings Channel reports. The fund owned 22,215 shares of the media conglomerate’s stock after buying an additional 3,200 shares during the period. Narwhal Capital Management’s holdings in Time Warner were worth $2,231,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atria Investments LLC increased its position in shares of Time Warner by 3.1% in the first quarter. Atria Investments LLC now owns 14,517 shares of the media conglomerate’s stock valued at $1,418,000 after buying an additional 436 shares during the last quarter. Integrated Wealth Management increased its position in Time Warner by 0.8% in the first quarter. Integrated Wealth Management now owns 2,132 shares of the media conglomerate’s stock valued at $209,000 after buying an additional 17 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Time Warner by 177.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,225 shares of the media conglomerate’s stock valued at $2,082,000 after buying an additional 13,569 shares in the last quarter. Reliance Trust Co. of Delaware increased its position in Time Warner by 3.3% in the first quarter. Reliance Trust Co. of Delaware now owns 20,916 shares of the media conglomerate’s stock valued at $2,044,000 after buying an additional 673 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC increased its position in Time Warner by 7.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 19,559 shares of the media conglomerate’s stock valued at $1,911,000 after buying an additional 1,402 shares in the last quarter. 78.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Time Warner Inc. (NYSE TWX) traded down 0.28% on Tuesday, hitting $102.00. 418,060 shares of the stock traded hands. The stock has a 50 day moving average price of $100.94 and a 200-day moving average price of $98.94. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The stock has a market cap of $79.34 billion, a price-to-earnings ratio of 18.92 and a beta of 1.05.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.14. The firm had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.29 earnings per share. On average, equities research analysts forecast that Time Warner Inc. will post $6.09 EPS for the current year.
The firm also recently declared 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 of this dividend was Thursday, July 6th. Time Warner’s payout ratio is currently 29.98%.
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TWX has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Pivotal Research downgraded Time Warner from a “buy” rating to a “hold” rating and upped their price objective for the stock from $100.00 to $107.50 in a report on Thursday, April 20th. BMO Capital Markets reaffirmed a “hold” rating and set a $108.00 price objective on shares of Time Warner in a report on Friday, May 19th. Rosenblatt Securities reiterated a “neutral” rating and set a $105.00 target price on shares of Time Warner in a research report on Wednesday, May 3rd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $105.00 target price (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 assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $102.25.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were bought 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 owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.
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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