Quantitative Investment Management LLC Takes Position in Time Warner Inc. (TWX)
Quantitative Investment Management LLC bought a new stake in Time Warner Inc. (NYSE:TWX) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,900 shares of the media conglomerate’s stock, valued at approximately $1,358,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox purchased a new position in shares of Time Warner during the fourth quarter valued at approximately $3,124,831,000. Franklin Resources Inc. boosted its position in shares of Time Warner by 106.8% in the fourth quarter. Franklin Resources Inc. now owns 12,389,546 shares of the media conglomerate’s stock valued at $1,195,963,000 after buying an additional 6,398,328 shares during the period. Norges Bank purchased a new position in shares of Time Warner during the fourth quarter valued at approximately $591,981,000. Abrams Capital Management L.P. purchased a new position in shares of Time Warner during the fourth quarter valued at approximately $294,417,000. Finally, Paulson & CO. Inc. purchased a new position in shares of Time Warner during the fourth quarter valued at approximately $275,680,000. 80.97% of the stock is owned by hedge funds and other institutional investors.
Time Warner Inc. (NYSE:TWX) opened at 99.20 on Friday. The company has a market cap of $76.93 billion, a PE ratio of 18.92 and a beta of 1.09. The firm’s 50-day moving average price is $98.79 and its 200-day moving average price is $97.29. Time Warner Inc. has a one year low of $68.97 and a one year high of $100.60.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, May 3rd. The media conglomerate reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.22. The company had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.66 billion. Time Warner had a return on equity of 19.45% and a net margin of 13.90%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.49 earnings per share. On average, equities research analysts forecast that Time Warner Inc. will post $6.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were paid a $0.4025 dividend. The ex-dividend date of this dividend was Friday, May 26th. This represents a $1.61 annualized dividend and a dividend yield of 1.62%. Time Warner’s payout ratio is 30.78%.
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Several research analysts have issued reports on the company. FBR & Co reiterated a “buy” rating and set a $107.50 price objective on shares of Time Warner in a research note on Friday, April 7th. MKM Partners reiterated a “neutral” rating and set a $107.50 price objective (up from $90.00) on shares of Time Warner in a research note on Monday, May 1st. Rosenblatt Securities assumed coverage on Time Warner in a research note on Tuesday, April 4th. They set a “neutral” rating and a $105.00 price objective for the company. BMO Capital Markets reiterated a “hold” rating and set a $108.00 price objective on shares of Time Warner in a research note on Monday, April 17th. Finally, Pivotal Research lowered Time Warner from a “buy” rating to a “hold” rating and increased their price objective for the stock from $100.00 to $107.50 in a research note on Thursday, April 20th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Time Warner currently has a consensus rating of “Hold” and an average price target of $100.50.
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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