Time Warner Inc. (TWX) Holdings Cut by Gabelli Funds LLC
Gabelli Funds LLC decreased its holdings in shares of Time Warner Inc. (NYSE:TWX) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,053,236 shares of the media conglomerate’s stock after selling 117,900 shares during the period. Time Warner makes up about 0.6% of Gabelli Funds LLC’s holdings, making the stock its 24th biggest position. Gabelli Funds LLC owned approximately 0.14% of Time Warner worth $107,904,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Time Warner by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock worth $5,004,741,000 after acquiring an additional 1,116,818 shares during the period. BlackRock Inc. grew its holdings in shares of Time Warner by 4.0% in the 2nd quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock worth $4,470,656,000 after acquiring an additional 1,696,681 shares during the period. State Street Corp grew its holdings in shares of Time Warner by 2.1% in the 1st quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after acquiring an additional 688,860 shares during the period. Franklin Resources Inc. grew its holdings in shares of Time Warner by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock worth $1,239,484,000 after acquiring an additional 51,596 shares during the period. Finally, FMR LLC grew its holdings in shares of Time Warner by 0.6% in the 1st quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after acquiring an additional 68,625 shares during the period. Institutional investors own 79.11% of the company’s stock.
Shares of Time Warner Inc. (NYSE:TWX) traded up $0.25 during mid-day trading on Tuesday, hitting $94.71. 711,091 shares of the stock traded hands, compared to its average volume of 7,679,691. The company has a quick ratio of 1.26, a current ratio of 1.48 and a debt-to-equity ratio of 0.80. Time Warner Inc. has a twelve month low of $85.22 and a twelve month high of $103.90. The company has a market capitalization of $72,627.16, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.47 and a beta of 0.98.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Thursday, October 26th. The media conglomerate reported $1.82 EPS for the quarter, topping the consensus estimate of $1.59 by $0.23. Time Warner had a net margin of 13.59% and a return on equity of 18.57%. The business had revenue of $7.60 billion for the quarter, compared to analysts’ expectations of $7.40 billion. During the same quarter last year, the company posted $1.83 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. equities research analysts expect that Time Warner Inc. will post 6.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.4025 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.70%. Time Warner’s dividend payout ratio is currently 30.73%.
A number of equities research analysts recently issued reports on TWX shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $108.00 target price on shares of Time Warner in a research note on Friday, July 14th. BidaskClub lowered Time Warner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Credit Suisse Group lowered Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 target price on the stock. in a research note on Monday, September 18th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Time Warner in a research note on Tuesday, September 12th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $107.50 target price on shares of Time Warner in a research note on Thursday, October 12th. Twenty-four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $104.74.
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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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