Carroll Financial Associates Inc. cut its stake in Time Warner Inc. (NYSE:TWX) by 16.1% during the second quarter, Holdings Channel reports. The fund owned 1,048 shares of the media conglomerate’s stock after selling 201 shares during the period. Carroll Financial Associates Inc.’s holdings in Time Warner were worth $105,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bellwether Investment Group LLC increased its position in Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after buying an additional 146 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after buying an additional 100 shares during the last quarter. Advisory Services Network LLC acquired a new position in Time Warner during the first quarter valued at $138,000. Archford Capital Strategies LLC increased its position in Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock valued at $155,000 after buying an additional 481 shares during the last quarter. Finally, City Holding Co. increased its position in Time Warner by 7.7% in the second quarter. City Holding Co. now owns 1,715 shares of the media conglomerate’s stock valued at $172,000 after buying an additional 123 shares during the last quarter. Institutional investors and hedge funds own 80.02% of the company’s stock.
Time Warner Inc. (NYSE TWX) traded down 0.20% during mid-day trading on Thursday, reaching $102.08. The company’s stock had a trading volume of 1,374,720 shares. Time Warner Inc. has a 12-month low of $74.27 and a 12-month high of $103.34. The stock has a market cap of $79.40 billion, a price-to-earnings ratio of 18.94 and a beta of 1.05. The firm’s 50 day moving average price is $100.71 and its 200 day moving average price is $98.80.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the business earned $1.29 EPS. Time Warner’s revenue was up 5.4% on a year-over-year basis. On average, equities analysts predict that Time Warner Inc. will post $6.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a dividend of $0.4025 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.61 annualized dividend and a yield of 1.57%. Time Warner’s dividend payout ratio (DPR) is 29.98%.
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Several research analysts have weighed in on the company. Cowen and Company restated a “hold” rating and issued a $107.50 price target on shares of Time Warner in a research note on Thursday, August 3rd. BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC downgraded Time Warner from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research note on Thursday, August 3rd. Zacks Investment Research downgraded Time Warner from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays PLC downgraded Time Warner from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $95.00 to $107.00 in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $102.25.
In related news, CFO Howard M. Averill purchased 255 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were bought at an average price of $99.67 per share, for a total transaction of $25,415.85. Following the acquisition, the chief financial officer now directly owns 63,399 shares in the company, valued at $6,318,978.33. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.16% of the stock is owned by corporate 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 premium pay television and over the top (OTT) services and premium pay, basic tier television and OTT services internationally, and Warner Bros., which consists of television, feature film, home video, and videogame production and distribution.
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