Time Warner Inc. (TWX) Stake Cut by Hartford Investment Management Co.
Hartford Investment Management Co. reduced its position in Time Warner Inc. (NYSE:TWX) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 169,436 shares of the media conglomerate’s stock after selling 6,502 shares during the period. Hartford Investment Management Co.’s holdings in Time Warner were worth $17,013,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Bellwether Investment Group LLC raised its stake in 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 during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in 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 during the last quarter. Carroll Financial Associates Inc. raised its stake in Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock worth $122,000 after buying an additional 33 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Time Warner during the first quarter worth $138,000. Finally, Archford Capital Strategies LLC raised its stake in 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 during the last quarter. Institutional investors and hedge funds own 80.02% of the company’s stock.
Shares of Time Warner Inc. (TWX) traded down 0.04% on Friday, hitting $101.90. The stock had a trading volume of 2,326,218 shares. The firm’s 50-day moving average price is $100.86 and its 200 day moving average price is $98.86. Time Warner Inc. has a 52-week low of $74.27 and a 52-week high of $103.34. The firm has a market cap of $79.26 billion, a PE ratio of 18.91 and a beta of 1.05.
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, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The business had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.29 EPS. On average, equities research analysts predict that Time Warner Inc. will post $6.09 EPS for the current year.
The firm also recently disclosed 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 1.58%. Time Warner’s dividend payout ratio is currently 29.98%.
A number of analysts have weighed in on TWX shares. Jefferies Group LLC reiterated a “buy” rating and issued a $105.00 target price on shares of Time Warner in a research note on Monday, May 22nd. BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded Time Warner from a “hold” rating to a “buy” rating and set a $113.00 target price on the stock in a research note on Thursday, July 13th. Barclays PLC lowered Time Warner from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $95.00 to $107.00 in a research note on Friday, August 4th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $108.00 price target on shares of Time Warner in a research note on Friday, July 14th. One 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 issued a strong buy rating to the company’s stock. Time Warner presently has an average rating of “Hold” and a consensus price target of $102.25.
In other news, CFO Howard M. Averill bought 255 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $99.67 per share, with a total value of $25,415.85. Following the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at $6,318,978.33. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.16% of the company’s stock.
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.
Want to see what other hedge funds are holding TWX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Time Warner Inc. (NYSE:TWX).
Receive News & Ratings for Time Warner Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Time Warner Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.