Time Warner Inc. (TWX) Shares Sold by Bank of Montreal Can
Bank of Montreal Can decreased its stake in shares of Time Warner Inc. (NYSE:TWX) by 33.1% during the second quarter, Holdings Channel reports. The fund owned 1,746,411 shares of the media conglomerate’s stock after selling 865,342 shares during the period. Bank of Montreal Can’s holdings in Time Warner were worth $175,357,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. 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 valued at $106,000 after buying an additional 146 shares during 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 valued at $109,000 after buying an additional 100 shares during the last quarter. Advisory Services Network LLC bought a new stake in shares of Time Warner during the first quarter valued at about $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 valued at $155,000 after buying an additional 481 shares during the last quarter. Finally, Asset Dedication LLC raised its stake in shares of Time Warner by 14.6% in the first quarter. Asset Dedication LLC now owns 1,729 shares of the media conglomerate’s stock valued at $169,000 after buying an additional 220 shares during the last quarter. Institutional investors and hedge funds own 78.76% of the company’s stock.
Shares of Time Warner Inc. (TWX) traded down 0.28% on Tuesday, reaching $102.00. 417,659 shares of the company’s stock were exchanged. The company’s 50 day moving average is $100.94 and its 200-day moving average is $98.94. Time Warner Inc. has a one year low of $74.27 and a one year high of $103.34. The stock has a market cap of $79.34 billion, a price-to-earnings ratio of 18.92 and a beta of 1.05.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $7.29 billion. During the same period last year, the company earned $1.29 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts anticipate that Time Warner Inc. will post $6.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.4025 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.57%. Time Warner’s dividend payout ratio (DPR) is 29.98%.
Several equities research analysts have issued reports on TWX shares. Jefferies Group LLC reiterated a “buy” rating and set a $105.00 target price on shares of Time Warner in a research report on Monday, May 22nd. BidaskClub upgraded shares of Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Time Warner from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research report on Thursday, July 13th. Barclays PLC lowered shares of Time Warner from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $95.00 to $107.00 in a research report on Friday, August 4th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $108.00 target price 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-five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Time Warner currently has a consensus rating of “Hold” and an average target price of $102.25.
In other Time Warner news, CFO Howard M. Averill bought 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was acquired at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the transaction, the chief financial officer now owns 63,399 shares in the company, valued at $6,318,978.33. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 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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