Time Warner Inc. (TWX) Shares Sold by FineMark National Bank & Trust
FineMark National Bank & Trust trimmed its holdings in Time Warner Inc. (NYSE:TWX) by 20.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,192 shares of the media conglomerate’s stock after selling 1,302 shares during the quarter. FineMark National Bank & Trust’s holdings in Time Warner were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of TWX. BlackRock Inc. lifted its holdings in Time Warner by 2,169.2% in the 1st quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock valued at $4,184,660,000 after acquiring an additional 40,940,053 shares during the last quarter. Canyon Capital Advisors LLC lifted its holdings in Time Warner by 397.0% in the 1st quarter. Canyon Capital Advisors LLC now owns 5,695,848 shares of the media conglomerate’s stock valued at $556,541,000 after acquiring an additional 4,549,848 shares during the last quarter. OZ Management LP lifted its holdings in Time Warner by 98.2% in the 1st quarter. OZ Management LP now owns 6,243,467 shares of the media conglomerate’s stock valued at $610,049,000 after acquiring an additional 3,093,353 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Time Warner by 4,979.0% in the 1st quarter. Renaissance Technologies LLC now owns 2,678,334 shares of the media conglomerate’s stock valued at $261,700,000 after acquiring an additional 2,625,600 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Time Warner by 2,022.3% in the 2nd quarter. Janus Henderson Group PLC now owns 2,171,828 shares of the media conglomerate’s stock valued at $218,073,000 after acquiring an additional 2,069,495 shares during the last quarter. 79.21% of the stock is owned by institutional investors.
TWX has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Time Warner from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Credit Suisse Group downgraded Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price objective on the stock. in a report on Monday, September 18th. Morgan Stanley restated an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Sanford C. Bernstein restated a “market perform” rating on shares of Time Warner in a report on Tuesday, September 12th. Finally, Jefferies Group LLC restated a “hold” rating and set a $105.00 price objective on shares of Time Warner in a report on Sunday, September 10th. Twenty-three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $104.90.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The firm had revenue of $7.60 billion for the quarter, compared to analyst estimates of $7.40 billion. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 EPS.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, October 6th. Time Warner’s dividend payout ratio (DPR) is 30.73%.
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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