Whittier Trust Co. cut its position in shares of Time Warner Inc. (NYSE:TWX) by 4.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,631 shares of the media conglomerate’s stock after selling 2,542 shares during the period. Whittier Trust Co.’s holdings in Time Warner were worth $3,650,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Baker Ellis Asset Management LLC acquired a new stake in shares of Time Warner during the first quarter worth approximately $109,000. City Holding Co. raised its stake 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 raised its stake 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 raised its stake 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. acquired a new stake in shares of Time Warner during the second quarter worth approximately $208,000. Institutional investors own 80.68% of the company’s stock.
Time Warner Inc. (NYSE:TWX) traded up 0.09% during mid-day trading on Thursday, hitting $79.66. The company had a trading volume of 4,393,824 shares. The company has a 50 day moving average of $78.33 and a 200 day moving average of $75.87. The firm has a market capitalization of $61.96 billion, a PE ratio of 15.85 and a beta of 1.21. Time Warner Inc. has a 1-year low of $55.53 and a 1-year high of $81.33.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.13. The company earned $7 billion during the quarter, compared to analyst estimates of $7.12 billion. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. Analysts predict that Time Warner Inc. will post $5.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a $0.4025 dividend. This represents a $1.61 annualized dividend and a yield of 2.02%. The ex-dividend date was Monday, August 29th. Time Warner’s payout ratio is currently 32.01%.
Several brokerages have issued reports on TWX. Jefferies Group restated a “buy” rating on shares of Time Warner in a research note on Thursday, August 25th. Loop Capital restated a “buy” rating and issued a $96.00 target price on shares of Time Warner in a research note on Wednesday, August 17th. Credit Suisse Group AG restated a “buy” rating and issued a $90.00 target price on shares of Time Warner in a research note on Friday, August 12th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Time Warner in a research note on Wednesday, July 6th. Finally, Argus restated a “buy” rating on shares of Time Warner in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Time Warner currently has a consensus rating of “Buy” and a consensus target price of $86.17.
In other news, EVP Paul T. Cappuccio sold 56,595 shares of Time Warner stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total transaction of $4,427,992.80. Following the completion of the sale, the executive vice president now owns 157,877 shares of the company’s stock, valued at $12,352,296.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karen Magee sold 14,240 shares of Time Warner stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $79.97, for a total transaction of $1,138,772.80. Following the sale, the insider now directly owns 7,461 shares of the company’s stock, valued at approximately $596,656.17. The disclosure for this sale can be found here. 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 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.
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