Time Warner Inc. (TWX) Shares Bought by Wetherby Asset Management Inc.
Wetherby Asset Management Inc. raised its position in Time Warner Inc. (NYSE:TWX) by 1.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,104 shares of the media conglomerate’s stock after buying an additional 250 shares during the period. Wetherby Asset Management Inc.’s holdings in Time Warner were worth $1,417,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Bellwether Investment Group LLC raised its stake in shares of Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after buying an additional 146 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock worth $109,000 after buying an additional 100 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Time Warner during the first quarter worth $138,000. Archford Capital Strategies LLC raised its stake in shares of Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock worth $155,000 after buying an additional 481 shares in the last quarter. Finally, City Holding Co. raised its stake in shares of Time Warner by 7.7% in the second quarter. City Holding Co. now owns 1,715 shares of the media conglomerate’s stock worth $172,000 after buying an additional 123 shares in the last quarter. 79.27% of the stock is owned by institutional investors.
Time Warner Inc. (NYSE:TWX) opened at 101.70 on Tuesday. The firm has a market capitalization of $79.10 billion, a P/E ratio of 18.87 and a beta of 1.05. Time Warner Inc. has a 1-year low of $74.27 and a 1-year high of $103.34. The company’s 50-day moving average price is $101.22 and its 200-day moving average price is $99.25.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the firm earned $1.29 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. Equities research analysts expect that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.4025 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.58%. Time Warner’s dividend payout ratio is presently 29.98%.
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A number of brokerages recently weighed in on TWX. Jefferies Group LLC restated a “hold” rating and set a $105.00 price objective (up previously from $102.42) on shares of Time Warner in a research report on Sunday, July 30th. Cowen and Company restated a “hold” rating and set a $107.50 price objective on shares of Time Warner in a research report on Thursday, August 3rd. Zacks Investment Research lowered Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Evercore ISI lowered Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective on the stock. in a research report on Monday, August 7th. Finally, BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $102.25.
In other Time Warner news, CFO Howard M. Averill acquired 255 shares of the company’s stock in a transaction dated 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 completion of the purchase, the chief financial officer now owns 63,399 shares in the company, valued at $6,318,978.33. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.16% of the stock is currently owned by company insiders.
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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