Time Warner Inc. (TWX) Shares Sold by Ropes Wealth Advisors LLC
Ropes Wealth Advisors LLC lessened its stake in Time Warner Inc. (NYSE:TWX) by 80.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,575 shares of the media conglomerate’s stock after selling 14,889 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Time Warner were worth $359,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in TWX. Jacobi Capital Management LLC increased its holdings in Time Warner by 2.1% during the 2nd quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock valued at $100,000 after acquiring an additional 20 shares in the last quarter. Bellwether Investment Group LLC raised its position in Time Warner by 15.6% during the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after acquiring an additional 146 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in Time Warner by 9.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock worth $109,000 after acquiring an additional 100 shares during the last quarter. Harfst & Associates Inc. raised its position in Time Warner by 31.6% during the second quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock worth $120,000 after acquiring an additional 288 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new stake in shares of Time Warner in the second quarter valued at about $127,000. Institutional investors and hedge funds own 79.19% of the company’s stock.
Several research firms have recently commented on TWX. Needham & Company LLC reiterated a “hold” rating on shares of Time Warner in a research report on Tuesday, September 26th. Credit Suisse Group downgraded Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price objective for the company. in a research report on Monday, September 18th. BMO Capital Markets reaffirmed a “hold” rating and issued a $108.00 target price on shares of Time Warner in a research note on Wednesday, September 13th. Sanford C. Bernstein reiterated a “market perform” rating on shares of Time Warner in a report on Tuesday, September 12th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $105.00 price target on shares of Time Warner in a research report on Sunday, September 10th. One investment analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $102.91.
Time Warner Inc. (TWX) opened at 103.28 on Wednesday. The company’s 50-day moving average price is $101.78 and its 200 day moving average price is $100.07. Time Warner Inc. has a 52 week low of $78.32 and a 52 week high of $103.45. The company has a market capitalization of $80.33 billion, a PE ratio of 19.16 and a beta of 1.02.
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 analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Time Warner Inc. will post $6.10 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a $0.4025 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.56%. Time Warner’s dividend payout ratio is currently 29.98%.
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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