National Planning Corp Buys 97 Shares of Time Warner Inc. (TWX)
National Planning Corp increased its stake in Time Warner Inc. (NYSE:TWX) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,621 shares of the media conglomerate’s stock after buying an additional 97 shares during the period. National Planning Corp’s holdings in Time Warner were worth $266,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. New Jersey Better Educational Savings Trust raised its stake in Time Warner by 40.0% in the second quarter. New Jersey Better Educational Savings Trust now owns 14,000 shares of the media conglomerate’s stock valued at $1,406,000 after buying an additional 4,000 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Time Warner by 2.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,755,800 shares of the media conglomerate’s stock valued at $276,710,000 after buying an additional 55,867 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in Time Warner by 1.8% in the second quarter. Wetherby Asset Management Inc. now owns 14,104 shares of the media conglomerate’s stock valued at $1,417,000 after buying an additional 250 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Time Warner by 624.8% in the second quarter. Canada Pension Plan Investment Board now owns 2,044,346 shares of the media conglomerate’s stock valued at $205,273,000 after buying an additional 1,762,300 shares in the last quarter. Finally, Hunting Hill Global Capital LLC bought a new stake in Time Warner during the second quarter valued at approximately $22,823,000. Institutional investors and hedge funds own 79.27% of the company’s stock.
Shares of Time Warner Inc. (NYSE TWX) opened at 101.38 on Wednesday. The firm has a market cap of $78.85 billion, a price-to-earnings ratio of 18.81 and a beta of 1.05. The firm has a 50-day moving average price of $101.22 and a 200-day moving average price of $99.25. 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 for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the company earned $1.29 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Analysts predict that Time Warner Inc. will post $6.10 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Thursday, July 6th. Time Warner’s dividend payout ratio is currently 29.98%.
Several research firms have commented on TWX. Royal Bank Of Canada restated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research report on Tuesday, August 15th. Zacks Investment Research lowered Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Evercore ISI lowered Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective on the stock. in a research report on Monday, August 7th. Barclays PLC lowered Time Warner from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $95.00 to $107.00 in a research report on Friday, August 4th. Finally, Cowen and Company restated a “hold” rating and issued a $107.50 price objective on shares of Time Warner in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $102.25.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 63,399 shares in the company, valued at approximately $6,318,978.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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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