United Services Automobile Association decreased its stake in Time Warner Inc. (NYSE:TWX) by 5.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 661,402 shares of the media conglomerate’s stock after selling 41,137 shares during the period. United Services Automobile Association owned 0.09% of Time Warner worth $64,626,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Archford Capital Strategies LLC acquired a new position in Time Warner during the fourth quarter valued at approximately $106,000. Patriot Financial Group Insurance Agency LLC raised 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. Carroll Financial Associates Inc. raised its position in Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 33 shares during the last quarter. Advisory Services Network LLC acquired a new position in Time Warner during the first quarter valued at approximately $138,000. Finally, Asset Dedication LLC raised its position in Time Warner by 14.6% in the first quarter. Asset Dedication LLC now owns 1,729 shares of the media conglomerate’s stock valued at $169,000 after buying an additional 220 shares during the last quarter. 79.78% of the stock is owned by institutional investors.
Time Warner Inc. (TWX) traded up 0.17% during trading on Friday, reaching $102.52. 2,688,354 shares of the company were exchanged. The stock has a market capitalization of $79.66 billion, a PE ratio of 19.01 and a beta of 1.05. Time Warner Inc. has a 52-week low of $74.27 and a 52-week high of $103.34. The firm’s 50 day moving average is $100.19 and its 200 day moving average is $98.55.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the prior year, the business posted $1.29 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts expect that Time Warner Inc. will post $6.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.4025 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.57%. Time Warner’s payout ratio is 29.98%.
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Several research analysts have recently commented on the stock. BidaskClub lowered shares of Time Warner from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 13th. Jefferies Group LLC lowered shares of Time Warner from a “buy” rating to a “hold” rating in a research note on Thursday. Cowen and Company reissued a “hold” rating and issued a $107.50 price objective on shares of Time Warner in a research note on Thursday. Barclays PLC cut shares of Time Warner from an “overweight” rating to an “equal weight” rating in a report on Friday. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $107.50 target price (up previously from $90.00) on shares of Time Warner in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $101.17.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $99.67 per share, with a total value of $25,415.85. Following the completion of the purchase, the chief financial officer now owns 63,399 shares in the company, valued at approximately $6,318,978.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.16% of the company’s stock.
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 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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