Pacific Alternative Asset Management Company LLC Increases Position in Time Warner Inc. (TWX)
Pacific Alternative Asset Management Company LLC lifted its holdings in shares of Time Warner Inc. (NYSE:TWX) by 15.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 548,600 shares of the media conglomerate’s stock after buying an additional 71,408 shares during the quarter. Time Warner comprises 14.1% of Pacific Alternative Asset Management Company LLC’s investment portfolio, making the stock its 2nd biggest position. Pacific Alternative Asset Management Company LLC owned about 0.07% of Time Warner worth $55,085,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in TWX. Jacobi Capital Management LLC lifted its holdings in shares of Time Warner by 2.1% in the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after buying an additional 20 shares in the last quarter. Bellwether Investment Group LLC grew its stake in Time Warner by 15.6% during the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after acquiring an additional 146 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Time Warner by 9.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after acquiring an additional 100 shares in the last quarter. Captrust Financial Advisors purchased a new position in Time Warner during the second quarter valued at approximately $127,000. Finally, Motco purchased a new position in Time Warner during the second quarter valued at approximately $129,000. 79.19% of the stock is owned by institutional investors.
TWX has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Time Warner in a report on Tuesday, September 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $105.00 price target (up previously from $102.42) on shares of Time Warner in a report on Sunday, July 30th. Evercore ISI cut shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price target on the stock. in a report on Monday, August 7th. Cowen and Company reiterated a “hold” rating and issued a $107.50 price objective on shares of Time Warner in a research report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $102.91.
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Time Warner Inc. (TWX) opened at 103.08 on Tuesday. Time Warner Inc. has a 52 week low of $78.32 and a 52 week high of $103.42. The company has a 50-day moving average of $101.75 and a 200-day moving average of $100.04. The company has a market cap of $80.18 billion, a PE ratio of 19.12 and a beta of 1.02.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The firm had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 EPS. On average, equities analysts expect that Time Warner Inc. will post $6.10 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, October 6th. Time Warner’s payout ratio is currently 29.98%.
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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