Grandfield & Dodd LLC raised its stake in shares of Time Warner Inc. (NYSE:TWX) by 8.7% during the second quarter, Holdings Channel reports. The institutional investor owned 131,686 shares of the media conglomerate’s stock after buying an additional 10,593 shares during the period. Grandfield & Dodd LLC’s holdings in Time Warner were worth $9,684,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of TWX. Cannell Peter B & Co Inc boosted its stake in Time Warner by 2,810.1% in the first quarter. Cannell Peter B & Co Inc now owns 743,525 shares of the media conglomerate’s stock valued at $53,943,000 after buying an additional 717,975 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Time Warner by 50.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,807,086 shares of the media conglomerate’s stock valued at $131,104,000 after buying an additional 603,700 shares during the last quarter. Bank of Montreal Can purchased a new stake in Time Warner during the second quarter valued at approximately $41,813,000. BB&T Securities LLC boosted its stake in Time Warner by 514.5% in the first quarter. BB&T Securities LLC now owns 478,589 shares of the media conglomerate’s stock valued at $34,721,000 after buying an additional 400,711 shares during the last quarter. Finally, AMF Pensionsforsakring AB boosted its stake in Time Warner by 32.8% in the first quarter. AMF Pensionsforsakring AB now owns 1,291,207 shares of the media conglomerate’s stock valued at $93,677,000 after buying an additional 318,570 shares during the last quarter. Institutional investors and hedge funds own 80.68% of the company’s stock.
Time Warner Inc. (NYSE:TWX) traded down 0.18% during trading on Tuesday, reaching $79.18. The company’s stock had a trading volume of 3,284,746 shares. Time Warner Inc. has a 52-week low of $55.53 and a 52-week high of $81.33. The stock has a 50-day moving average price of $78.42 and a 200 day moving average price of $75.79. The company has a market cap of $61.59 billion, a PE ratio of 15.75 and a beta of 1.21.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.13. The company earned $7 billion during the quarter, compared to analysts’ expectations of $7.12 billion. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 earnings per share. On average, analysts expect that Time Warner Inc. will post $5.42 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, August 29th. Time Warner’s dividend payout ratio (DPR) is presently 32.01%.
Several research firms have commented on TWX. Bank of America Corp. restated a “hold” rating on shares of Time Warner in a research note on Tuesday, July 12th. Albert Fried & Company restated a “buy” rating and issued a $90.00 target price on shares of Time Warner in a research note on Wednesday, August 3rd. Jefferies Group boosted their target price on Time Warner from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Brean Capital restated a “buy” rating on shares of Time Warner in a research note on Tuesday, July 26th. Finally, MKM Partners restated a “buy” rating on shares of Time Warner in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $86.17.
In other news, insider Karen Magee sold 14,240 shares of Time Warner 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 transaction, the insider now directly owns 7,461 shares in the company, valued at $596,656.17. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paul T. Cappuccio sold 56,595 shares of Time Warner stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total value of $4,427,992.80. Following the completion of the transaction, the executive vice president now owns 157,877 shares of the company’s stock, valued at $12,352,296.48. The disclosure for this sale can be found here. 0.16% of the stock is owned by 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.