OppenheimerFunds Inc. grew its stake in Time Warner Inc (NYSE:TWX) by 18.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 647,908 shares of the media conglomerate’s stock after buying an additional 100,597 shares during the quarter. OppenheimerFunds Inc.’s holdings in Time Warner were worth $59,264,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Bank of Nova Scotia Trust Co. acquired a new position in shares of Time Warner in the 3rd quarter valued at about $102,000. Americafirst Capital Management LLC acquired a new position in shares of Time Warner in the 3rd quarter valued at about $106,000. Zions Bancorporation lifted its holdings in shares of Time Warner by 698.6% in the 3rd quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock valued at $117,000 after buying an additional 999 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in shares of Time Warner in the 4th quarter valued at about $131,000. Finally, NTV Asset Management LLC acquired a new position in shares of Time Warner in the 3rd quarter valued at about $202,000. 78.66% of the stock is owned by institutional investors and hedge funds.
In other Time Warner news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total value of $29,867,180.70. Following the sale, the chief executive officer now owns 855,925 shares of the company’s stock, valued at $77,589,601.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 360,966 shares of company stock valued at $32,745,250. 0.16% of the stock is owned by company insiders.
Time Warner (NYSE:TWX) last posted its quarterly earnings data on Thursday, February 1st. The media conglomerate reported $1.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.16. Time Warner had a return on equity of 18.96% and a net margin of 16.78%. The company had revenue of $8.61 billion during the quarter, compared to analyst estimates of $8.41 billion. During the same period in the previous year, the business earned $1.25 EPS. Time Warner’s quarterly revenue was up 9.1% on a year-over-year basis. equities analysts anticipate that Time Warner Inc will post 7.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were paid a dividend of $0.4025 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.61 annualized dividend and a yield of 1.70%. Time Warner’s dividend payout ratio (DPR) is currently 24.32%.
Several brokerages have recently issued reports on TWX. Moffett Nathanson raised Time Warner from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Co reissued a “market perform” rating and issued a $84.00 price objective (down previously from $100.00) on shares of Time Warner in a report on Tuesday, November 21st. Barclays lifted their price target on Time Warner from $100.00 to $101.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. B. Riley restated a “neutral” rating and issued a $101.00 price target (down previously from $105.00) on shares of Time Warner in a research note on Friday, November 3rd. Finally, upgraded Time Warner from a “hold” rating to a “buy” rating and lifted their price target for the company from $102.00 to $103.00 in a research note on Wednesday, November 15th. Sixteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $104.36.
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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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