Zacks Investment Management Has $17.21 Million Holdings in Time Warner Inc. (TWX)
Zacks Investment Management cut its holdings in shares of Time Warner Inc. (NYSE:TWX) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 171,347 shares of the media conglomerate’s stock after selling 3,063 shares during the quarter. Zacks Investment Management’s holdings in Time Warner were worth $17,205,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Legal & General Group Plc increased its holdings in shares of Time Warner by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 3,962,756 shares of the media conglomerate’s stock valued at $397,891,000 after acquiring an additional 99,059 shares during the last quarter. Segantii Capital Management Ltd bought a new stake in shares of Time Warner in the 2nd quarter valued at approximately $33,886,000. Blair William & Co. IL increased its holdings in shares of Time Warner by 27.9% in the 2nd quarter. Blair William & Co. IL now owns 37,132 shares of the media conglomerate’s stock valued at $3,728,000 after acquiring an additional 8,096 shares during the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Time Warner by 1.3% in the 2nd quarter. State of Wisconsin Investment Board now owns 897,692 shares of the media conglomerate’s stock valued at $90,137,000 after acquiring an additional 11,740 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Time Warner by 10.0% in the 1st quarter. Assetmark Inc. now owns 2,628 shares of the media conglomerate’s stock valued at $257,000 after acquiring an additional 239 shares during the last quarter. Institutional investors own 79.19% of the company’s stock.
Time Warner Inc. (NYSE:TWX) opened at 103.64 on Friday. Time Warner Inc. has a 52-week low of $78.32 and a 52-week high of $103.90. The firm has a market cap of $80.61 billion, a price-to-earnings ratio of 19.23 and a beta of 1.02. The company’s 50-day moving average price is $101.88 and its 200-day moving average price is $100.12.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period last year, the firm posted $1.29 EPS. The business’s revenue was up 5.4% on a year-over-year basis. Analysts predict that Time Warner Inc. will post $6.10 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.4025 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.55%. Time Warner’s dividend payout ratio is 29.98%.
A number of brokerages have recently weighed in on TWX. Royal Bank Of Canada set a $108.00 price target on Time Warner and gave the company a “hold” rating in a report on Monday, June 12th. Jefferies Group LLC downgraded Time Warner from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Thursday, August 3rd. Credit Suisse Group AG downgraded Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price target for the company. in a report on Monday, September 18th. Morgan Stanley reiterated an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Finally, BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $102.91.
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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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