Time Warner Inc. (TWX) Shares Bought by Trust Co
Trust Co increased its position in shares of Time Warner Inc. (NYSE:TWX) by 2.2% during the first quarter, Holdings Channel reports. The firm owned 9,715 shares of the media conglomerate’s stock after buying an additional 207 shares during the period. Trust Co’s holdings in Time Warner were worth $949,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock worth $4,184,660,000 after buying an additional 40,940,053 shares in the last quarter. Canyon Capital Advisors LLC increased its position in shares of Time Warner by 397.0% in the first quarter. Canyon Capital Advisors LLC now owns 5,695,848 shares of the media conglomerate’s stock worth $556,541,000 after buying an additional 4,549,848 shares in the last quarter. OZ Management LP increased its position in shares of Time Warner by 98.2% in the first quarter. OZ Management LP now owns 6,243,467 shares of the media conglomerate’s stock worth $610,049,000 after buying an additional 3,093,353 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Time Warner by 4,979.0% in the first quarter. Renaissance Technologies LLC now owns 2,678,334 shares of the media conglomerate’s stock worth $261,700,000 after buying an additional 2,625,600 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock worth $4,761,042,000 after buying an additional 1,740,936 shares in the last quarter. Institutional investors own 80.02% of the company’s stock.
Time Warner Inc. (NYSE TWX) traded down 0.03% during mid-day trading on Friday, hitting $101.91. 771,584 shares of the company were exchanged. Time Warner Inc. has a 12-month low of $74.27 and a 12-month high of $103.34. The stock has a market cap of $79.27 billion, a P/E ratio of 18.91 and a beta of 1.05. The company has a 50 day moving average of $100.79 and a 200 day moving average of $98.82.
Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping the consensus estimate of $1.19 by $0.14. The firm had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the company posted $1.29 EPS. On average, equities research analysts expect that Time Warner Inc. will post $6.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.4025 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.61 annualized dividend and a yield of 1.58%. Time Warner’s dividend payout ratio (DPR) is currently 29.98%.
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A number of brokerages have recently commented on TWX. BidaskClub downgraded shares of Time Warner from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Barclays PLC downgraded shares of Time Warner from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $95.00 to $107.00 in a research note on Friday, August 4th. MKM Partners reissued a “neutral” rating and issued a $107.50 target price (up previously from $90.00) on shares of Time Warner in a research note on Monday, May 1st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $108.00 price target on shares of Time Warner in a research note on Friday, July 14th. Finally, Evercore ISI downgraded 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 research note on Monday. One research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $102.25.
In related news, CFO Howard M. Averill bought 255 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the acquisition, the chief financial officer now owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.16% of the company’s stock.
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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