Credit Agricole S A cut its stake in shares of Time Warner Inc (NYSE:TWX) by 93.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,983 shares of the media conglomerate’s stock after selling 738,548 shares during the quarter. Credit Agricole S A’s holdings in Time Warner were worth $4,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in TWX. Nationwide Fund Advisors lifted its position in Time Warner by 0.6% during the third quarter. Nationwide Fund Advisors now owns 218,764 shares of the media conglomerate’s stock valued at $22,412,000 after purchasing an additional 1,410 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Time Warner by 6.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 451,805 shares of the media conglomerate’s stock valued at $46,290,000 after purchasing an additional 28,670 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Time Warner during the third quarter valued at approximately $5,567,000. Tokio Marine Asset Management Co. Ltd. lifted its position in Time Warner by 19.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 32,726 shares of the media conglomerate’s stock valued at $3,353,000 after purchasing an additional 5,364 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Time Warner by 15.8% during the third quarter. Canada Pension Plan Investment Board now owns 2,366,350 shares of the media conglomerate’s stock valued at $242,433,000 after purchasing an additional 322,004 shares during the last quarter. Institutional investors and hedge funds own 78.66% of the company’s stock.
Time Warner Inc (NYSE TWX) opened at $92.96 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.08 and a debt-to-equity ratio of 0.64. Time Warner Inc has a one year low of $85.88 and a one year high of $103.90. The company has a market cap of $72,500.00, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.27 and a beta of 0.94.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Tuesday, January 9th. Time Warner’s payout ratio is 29.33%.
TWX has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Time Warner from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. Rosenblatt Securities upgraded shares of Time Warner from a “neutral” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Monday, November 13th. Guggenheim restated a “buy” rating on shares of Time Warner in a report on Thursday, January 4th. Wells Fargo & Co restated a “market perform” rating and issued a $98.00 price objective (up from $84.00) on shares of Time Warner in a report on Thursday, January 4th. Finally, Deutsche Bank restated a “buy” rating and issued a $99.00 price objective on shares of Time Warner in a report on Friday, November 10th. Sixteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $104.36.
In other Time Warner news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $90.03, for a total transaction of $2,111,203.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the transaction, the chief executive officer now directly owns 855,925 shares in the company, valued at $77,589,601.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,966 shares of company stock worth $32,745,250. 0.16% of the stock is owned by 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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