Time Warner Inc. (TWX) Stake Increased by CHURCHILL MANAGEMENT Corp
CHURCHILL MANAGEMENT Corp raised its stake in Time Warner Inc. (NYSE:TWX) by 197.2% during the second quarter, Holdings Channel reports. The fund owned 7,420 shares of the media conglomerate’s stock after buying an additional 4,923 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Time Warner were worth $745,000 as of its most recent filing with the SEC.
Other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock worth $4,761,042,000 after buying an additional 1,740,936 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock worth $4,184,660,000 after buying an additional 40,940,053 shares in the last quarter. State Street Corp boosted its stake in shares of Time Warner by 2.1% in the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after buying an additional 688,860 shares in the last quarter. FMR LLC boosted its stake in shares of Time Warner by 0.6% in the first quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after buying an additional 68,625 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Time Warner by 8.3% in the first quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock worth $710,380,000 after buying an additional 556,674 shares in the last quarter. Hedge funds and other institutional investors own 78.76% of the company’s stock.
Time Warner Inc. (NYSE:TWX) traded up 0.25% during mid-day trading on Wednesday, reaching $101.95. The company’s stock had a trading volume of 979,991 shares. The firm has a 50 day moving average price of $100.99 and a 200-day moving average price of $98.98. The company has a market capitalization of $79.30 billion, a PE ratio of 18.91 and a beta of 1.05. Time Warner Inc. has a 1-year low of $74.27 and a 1-year high of $103.34.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period last year, the firm earned $1.29 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities analysts predict that Time Warner Inc. will post $6.09 EPS for the current fiscal year.
The company also recently declared 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. This represents a $1.61 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, July 6th. Time Warner’s dividend payout ratio (DPR) is presently 29.98%.
A number of equities research analysts have weighed in on TWX shares. BidaskClub cut Time Warner from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Royal Bank Of Canada reiterated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research note on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $105.00 price objective on shares of Time Warner in a research note on Monday, May 22nd. Cowen and Company reiterated a “hold” rating and issued a $107.50 price objective on shares of Time Warner in a research note on Thursday, August 3rd. Finally, Evercore ISI cut Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective for the company. in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $102.25.
In other news, CFO Howard M. Averill purchased 255 shares of the stock in a transaction dated Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the transaction, the chief financial officer now owns 63,399 shares in the company, valued at $6,318,978.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.16% of the stock is currently owned by company insiders.
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.
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.