News Corporation (NWS) Stake Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. lifted its stake in News Corporation (NASDAQ:NWS) by 8.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 572,675 shares of the company’s stock after acquiring an additional 44,881 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.10% of News Corporation worth $8,104,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Independent Franchise Partners LLP acquired a new stake in News Corporation during the 2nd quarter worth approximately $16,945,000. State Street Corp lifted its holdings in News Corporation by 7.3% during the 1st quarter. State Street Corp now owns 4,192,557 shares of the company’s stock worth $56,601,000 after buying an additional 286,012 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in News Corporation by 12.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,498,859 shares of the company’s stock worth $20,236,000 after buying an additional 161,953 shares in the last quarter. First Quadrant L P CA lifted its holdings in News Corporation by 69.6% during the 2nd quarter. First Quadrant L P CA now owns 314,907 shares of the company’s stock worth $4,456,000 after buying an additional 129,214 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in News Corporation by 57.7% during the 1st quarter. Bank of America Corp DE now owns 318,206 shares of the company’s stock worth $4,295,000 after buying an additional 116,416 shares in the last quarter. Hedge funds and other institutional investors own 9.62% of the company’s stock.
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Shares of News Corporation (NWS) opened at 13.70 on Friday. The firm has a 50 day moving average of $13.60 and a 200-day moving average of $13.65. News Corporation has a 12 month low of $11.25 and a 12 month high of $15.10. The stock’s market capitalization is $7.97 billion.
News Corporation (NASDAQ:NWS) last posted its earnings results on Thursday, August 10th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.05. News Corporation had a negative net margin of 9.07% and a positive return on equity of 1.83%. The business had revenue of $2.08 billion for the quarter. Analysts forecast that News Corporation will post $1.39 earnings per share for the current year.
The company also recently announced a semiannual dividend, which will be paid on Wednesday, October 18th. Stockholders of record on Wednesday, September 13th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 12th. This represents a dividend yield of 1.45%. News Corporation’s payout ratio is currently -15.63%.
A number of equities research analysts have commented on NWS shares. BidaskClub raised shares of News Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Citigroup Inc. raised shares of News Corporation from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 26th.
News Corporation Profile
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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