Time Warner Inc. (TWX) Holdings Cut by Legg Mason Asset Management Japan Co. Ltd.
Legg Mason Asset Management Japan Co. Ltd. lowered its stake in shares of Time Warner Inc. (NYSE:TWX) by 5.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,700 shares of the media conglomerate’s stock after selling 400 shares during the quarter. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Time Warner were worth $673,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in TWX. Waldron LP boosted its position in shares of Time Warner by 137.7% in the first quarter. Waldron LP now owns 5,340 shares of the media conglomerate’s stock valued at $508,000 after acquiring an additional 3,093 shares during the period. Intrust Bank NA raised its stake in shares of Time Warner by 1.1% in the first quarter. Intrust Bank NA now owns 5,816 shares of the media conglomerate’s stock valued at $568,000 after purchasing an additional 64 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of Time Warner by 201.8% in the first quarter. Ropes Wealth Advisors LLC now owns 18,464 shares of the media conglomerate’s stock valued at $1,804,000 after purchasing an additional 12,347 shares in the last quarter. Connecticut Wealth Management LLC raised its stake in shares of Time Warner by 0.8% in the first quarter. Connecticut Wealth Management LLC now owns 4,199 shares of the media conglomerate’s stock valued at $413,000 after purchasing an additional 33 shares in the last quarter. Finally, Haverford Trust Co. acquired a new position in shares of Time Warner in the first quarter valued at $326,000. 79.19% of the stock is owned by hedge funds and other institutional investors.
TWX has been the subject of a number of recent research reports. Royal Bank Of Canada set a $108.00 target price on Time Warner and gave the company a “hold” rating in a research note on Monday, June 12th. BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Morgan Stanley restated an “overweight” rating on shares of Time Warner in a research note on Thursday, July 6th. Zacks Investment Research upgraded Time Warner from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research note on Thursday, July 13th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $105.00 target price (up from $102.42) on shares of Time Warner in a research note on Sunday, July 30th. One research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $102.91.
Time Warner Inc. (TWX) opened at 103.64 on Friday. Time Warner Inc. has a 12-month low of $78.32 and a 12-month high of $103.90. The company has a market cap of $80.61 billion, a PE ratio of 19.23 and a beta of 1.02. The company has a 50-day moving average price of $101.88 and a 200 day moving average price of $100.12.
Time Warner (NYSE:TWX) last issued its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts forecast that Time Warner Inc. will post $6.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.4025 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.55%. Time Warner’s payout ratio is presently 29.98%.
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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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