Time Warner Inc (TWX) Shares Sold by Havens Advisors LLC
Havens Advisors LLC reduced its holdings in Time Warner Inc (NYSE:TWX) by 29.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 112,300 shares of the media conglomerate’s stock after selling 48,000 shares during the period. Time Warner comprises approximately 7.7% of Havens Advisors LLC’s portfolio, making the stock its 7th biggest holding. Havens Advisors LLC’s holdings in Time Warner were worth $10,272,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Jacobi Capital Management LLC lifted its holdings in shares of Time Warner by 2.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after acquiring an additional 20 shares during the last quarter. Aureus Asset Management LLC lifted its holdings in shares of Time Warner by 0.7% in the 2nd quarter. Aureus Asset Management LLC now owns 3,582 shares of the media conglomerate’s stock worth $360,000 after acquiring an additional 25 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Time Warner by 1.8% in the 2nd quarter. Advisory Services Network LLC now owns 1,439 shares of the media conglomerate’s stock worth $144,000 after acquiring an additional 26 shares during the last quarter. GWM Advisors LLC lifted its holdings in shares of Time Warner by 1.8% in the 2nd quarter. GWM Advisors LLC now owns 2,906 shares of the media conglomerate’s stock worth $292,000 after acquiring an additional 52 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its holdings in shares of Time Warner by 2.5% in the 2nd quarter. Westside Investment Management Inc. now owns 2,896 shares of the media conglomerate’s stock worth $291,000 after acquiring an additional 71 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.
In other news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $90.03, for a total value of $2,111,203.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the business’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the completion of the sale, the chief executive officer now owns 855,925 shares of the company’s stock, valued at approximately $77,589,601.25. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
Time Warner Inc (NYSE TWX) traded down $0.14 during trading hours on Wednesday, hitting $91.91. 3,971,800 shares of the stock traded hands, compared to its average volume of 4,813,880. Time Warner Inc has a twelve month low of $85.88 and a twelve month high of $103.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.26 and a current ratio of 1.48. The company has a market cap of $71,770.00, a price-to-earnings ratio of 17.47, a P/E/G ratio of 1.39 and a beta of 0.95.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Thursday, October 26th. The media conglomerate reported $1.82 EPS for the quarter, beating the consensus estimate of $1.59 by $0.23. Time Warner had a net margin of 13.59% and a return on equity of 18.57%. The business had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.40 billion. During the same quarter in the previous year, the business posted $1.83 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. sell-side analysts expect that Time Warner Inc will post 6.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a $0.4025 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.61 annualized dividend and a dividend yield of 1.75%. Time Warner’s dividend payout ratio is currently 30.61%.
Several research firms have recently issued reports on TWX. Zacks Investment Research lowered shares of Time Warner from a “hold” rating to a “sell” rating in a report on Friday, January 12th. Needham & Company LLC reiterated a “hold” rating on shares of Time Warner in a report on Tuesday, September 26th. Wells Fargo & Co reiterated a “market perform” rating and set a $98.00 price objective (up previously from $84.00) on shares of Time Warner in a report on Thursday, January 4th. Pivotal Research reiterated a “buy” rating and set a $108.00 price objective (up previously from $103.00) on shares of Time Warner in a report on Tuesday, January 9th. Finally, Guggenheim reiterated a “buy” rating on shares of Time Warner in a report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and nine have issued a buy rating to the stock. Time Warner has a consensus rating of “Hold” and an average target price of $105.13.
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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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