Time Warner Inc. (TWX) Shares Bought by Franklin Resources Inc.
Franklin Resources Inc. grew its position in shares of Time Warner Inc. (NYSE:TWX) by 0.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 12,344,260 shares of the media conglomerate’s stock after acquiring an additional 51,596 shares during the period. Franklin Resources Inc. owned about 1.59% of Time Warner worth $1,239,484,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Schroder Investment Management Group grew its holdings in shares of Time Warner by 1,008.8% during the 2nd quarter. Schroder Investment Management Group now owns 9,048 shares of the media conglomerate’s stock worth $902,000 after acquiring an additional 8,232 shares during the period. Omni Partners LLP purchased a new position in shares of Time Warner during the 2nd quarter worth approximately $37,589,000. IFM Investors Pty Ltd purchased a new position in shares of Time Warner during the 2nd quarter worth approximately $2,129,000. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Time Warner by 10.3% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 6,316 shares of the media conglomerate’s stock worth $634,000 after acquiring an additional 592 shares during the period. Finally, Glassman Wealth Services grew its holdings in shares of Time Warner by 8.9% during the 2nd quarter. Glassman Wealth Services now owns 3,126 shares of the media conglomerate’s stock worth $314,000 after acquiring an additional 256 shares during the period. Hedge funds and other institutional investors own 79.16% of the company’s stock.
A number of research analysts have weighed in on TWX shares. BidaskClub downgraded Time Warner from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded Time Warner from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a report on Thursday, July 13th. Barclays PLC downgraded Time Warner from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $95.00 to $107.00 in a report on Friday, August 4th. Jefferies Group LLC reiterated a “hold” rating and set a $105.00 target price (up previously from $102.42) on shares of Time Warner in a report on Sunday, July 30th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $108.00 price target on shares of Time Warner in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $102.91.
Shares of Time Warner Inc. (TWX) opened at 102.49 on Friday. The stock has a market capitalization of $79.72 billion, a price-to-earnings ratio of 19.01 and a beta of 1.04. The stock has a 50 day moving average price of $101.65 and a 200 day moving average price of $99.76. Time Warner Inc. has a 1-year low of $74.68 and a 1-year high of $103.34.
Time Warner (NYSE:TWX) last posted its quarterly earnings data 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. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts anticipate that Time Warner Inc. will post $6.10 EPS for the current year.
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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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