Advisors Asset Management Inc. cut its stake in shares of News Corp. (NASDAQ:NWS) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,483 shares of the company’s stock after selling 1,283 shares during the period. Advisors Asset Management Inc.’s holdings in News Corp. were worth $204,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in News Corp. by 6.1% in the first quarter. State Street Corp now owns 3,604,377 shares of the company’s stock worth $47,759,000 after buying an additional 207,473 shares during the period. Hartford Investment Management Co. boosted its stake in News Corp. by 5.5% in the second quarter. Hartford Investment Management Co. now owns 23,921 shares of the company’s stock worth $279,000 after buying an additional 1,241 shares during the period. UBS Group AG boosted 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 worth $650,000 after buying an additional 42,587 shares during the period. Emerald Acquisition Ltd. acquired a new stake in News Corp. during the second quarter worth $4,596,000. Finally, Aviva PLC boosted its stake in News Corp. by 0.6% in the first quarter. Aviva PLC now owns 54,134 shares of the company’s stock worth $717,000 after buying an additional 303 shares during the period. 10.56% of the stock is owned by institutional investors.
Shares of News Corp. (NASDAQ:NWS) traded up 1.396% on Wednesday, hitting $14.895. The company had a trading volume of 865,204 shares. News Corp. has a 1-year low of $10.74 and a 1-year high of $15.74. The firm has a market capitalization of $8.64 billion, a price-to-earnings ratio of 48.836 and a beta of 1.90. The company has a 50 day moving average price of $14.26 and a 200 day moving average price of $13.07.
The firm also recently disclosed a dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Wednesday, September 14th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 12th. News Corp.’s dividend payout ratio is currently 66.67%.
Separately, TheStreet upgraded News Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $18.00.
News Corp. Company Profile
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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