Capstone Asset Management Co. reduced its stake in News Corp. (NASDAQ:NWS) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,850 shares of the company’s stock after selling 1,840 shares during the period. Capstone Asset Management Co.’s holdings in News Corp. were worth $185,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Exxonmobil Investment Management Inc. TX increased its stake in News Corp. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 27,904 shares of the company’s stock valued at $326,000 after buying an additional 1,657 shares during the last quarter. UBS Group AG increased its stake in News Corp. by 654.9% in the first quarter. UBS Group AG now owns 49,090 shares of the company’s stock valued at $650,000 after buying an additional 42,587 shares during the last quarter. Aviva PLC increased its stake in News Corp. by 0.6% in the first quarter. Aviva PLC now owns 54,134 shares of the company’s stock valued at $717,000 after buying an additional 303 shares during the last quarter. A.R.T. Advisors LLC increased its stake in News Corp. by 98.2% in the first quarter. A.R.T. Advisors LLC now owns 77,511 shares of the company’s stock valued at $1,027,000 after buying an additional 38,400 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in News Corp. by 4.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 90,995 shares of the company’s stock valued at $1,206,000 after buying an additional 3,869 shares during the last quarter. 10.56% of the stock is owned by hedge funds and other institutional investors.
Shares of News Corp. (NASDAQ:NWS) traded up 0.64% during trading on Friday, reaching $14.22. The company had a trading volume of 2,207,119 shares. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 46.62 and a beta of 1.90. The company’s 50 day moving average is $14.22 and its 200-day moving average is $13.04. News Corp. has a 1-year low of $10.74 and a 1-year high of $15.74.
The firm also recently declared a dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Wednesday, September 14th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, September 12th. News Corp.’s payout ratio is presently 66.67%.
Separately, TheStreet upgraded News Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. News Corp. has an average rating of “Buy” and an average target price of $18.00.
About News Corp.
News Corporation is a diversified media and information services company. The Company operates in five segments: News and Information Services, Cable Network Programming, Digital Real Estate Services, Book Publishing, and Other. The Company’s business consists of range of media, including news and information services, sports programming in Australia, digital real estate services, book publishing, and pay-television (TV) distribution in Australia, that are distributed under the brands, including The Wall Street Journal, Dow Jones, Herald Sun, The Sun, The Times, HarperCollins Publishers, FOX SPORTS Australia and realestate.com.au.
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