Conning Inc. lowered its position in Time Warner Inc. (NYSE:TWX) by 0.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,879 shares of the media conglomerate’s stock after selling 10 shares during the period. Conning Inc.’s holdings in Time Warner were worth $1,683,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Baker Ellis Asset Management LLC bought a new position in shares of Time Warner during the first quarter worth about $109,000. City Holding Co. boosted its position in shares of Time Warner by 2.3% in the second quarter. City Holding Co. now owns 1,592 shares of the media conglomerate’s stock worth $117,000 after buying an additional 36 shares during the period. NEXT Financial Group Inc boosted its position in shares of Time Warner by 59.9% in the second quarter. NEXT Financial Group Inc now owns 2,125 shares of the media conglomerate’s stock worth $156,000 after buying an additional 796 shares during the period. Alpha Windward LLC boosted its position in shares of Time Warner by 31.7% in the second quarter. Alpha Windward LLC now owns 2,591 shares of the media conglomerate’s stock worth $191,000 after buying an additional 624 shares during the period. Finally, Stock Yards Bank & Trust Co. bought a new position in shares of Time Warner during the second quarter worth about $208,000. Hedge funds and other institutional investors own 80.68% of the company’s stock.
Shares of Time Warner Inc. (NYSE:TWX) traded down 0.75% during trading on Friday, reaching $76.73. The company’s stock had a trading volume of 2,178,969 shares. The stock’s 50-day moving average is $78.64 and its 200-day moving average is $75.36. The stock has a market cap of $59.68 billion, a P/E ratio of 15.27 and a beta of 1.18. Time Warner Inc. has a 12-month low of $55.53 and a 12-month high of $81.33.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.13. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The business earned $7 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the business posted $1.25 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts anticipate that Time Warner Inc. will post $5.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, August 29th. Time Warner’s dividend payout ratio is currently 32.01%.
A number of brokerages have issued reports on TWX. Sanford C. Bernstein restated a “market perform” rating on shares of Time Warner in a report on Friday, June 17th. Loop Capital reiterated a “buy” rating and set a $96.00 price objective on shares of Time Warner in a report on Wednesday, August 17th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Time Warner in a report on Wednesday, July 6th. Deutsche Bank AG lifted their price objective on Time Warner from $93.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Finally, Royal Bank Of Canada lifted their price objective on Time Warner from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $86.17.
In other Time Warner news, EVP Paul T. Cappuccio sold 56,595 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $78.24, for a total value of $4,427,992.80. Following the completion of the sale, the executive vice president now directly owns 157,877 shares of the company’s stock, valued at $12,352,296.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Karen Magee sold 14,240 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $79.97, for a total value of $1,138,772.80. Following the completion of the sale, the insider now directly owns 7,461 shares of the company’s stock, valued at $596,656.17. The disclosure for this sale can be found here. 0.16% of the stock is owned by company insiders.
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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, 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 MarketBeat.com's FREE daily email newsletter.