Wedbush Securities Inc. boosted its stake in Time Warner Inc. (NYSE:TWX) by 7.1% during the second quarter, Holdings Channel reports. The firm owned 10,491 shares of the media conglomerate’s stock after buying an additional 697 shares during the period. Wedbush Securities Inc.’s holdings in Time Warner were worth $772,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vicus Capital increased its position in shares of Time Warner by 0.3% in the second quarter. Vicus Capital now owns 21,544 shares of the media conglomerate’s stock valued at $1,584,000 after buying an additional 55 shares during the period. ProVise Management Group LLC purchased a new position in shares of Time Warner during the second quarter valued at approximately $4,255,000. IFC Holdings Incorporated FL purchased a new position in shares of Time Warner during the second quarter valued at approximately $262,000. World Asset Management Inc increased its position in shares of Time Warner by 0.6% in the second quarter. World Asset Management Inc now owns 83,693 shares of the media conglomerate’s stock valued at $6,155,000 after buying an additional 476 shares during the period. Finally, Arrow Financial Corp increased its position in shares of Time Warner by 262.8% in the second quarter. Arrow Financial Corp now owns 20,628 shares of the media conglomerate’s stock valued at $1,517,000 after buying an additional 14,942 shares during the period. Hedge funds and other institutional investors own 80.68% of the company’s stock.
Shares of Time Warner Inc. (NYSE:TWX) traded down 0.94% during mid-day trading on Friday, reaching $87.47. 7,873,104 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $79.81 and its 200 day moving average price is $77.03. The company has a market cap of $68.04 billion, a PE ratio of 17.40 and a beta of 1.21. Time Warner Inc. has a 52-week low of $55.53 and a 52-week high of $94.44.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.13. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7.12 billion. Time Warner had a net margin of 14.54% and a return on equity of 17.33%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 earnings per share. On average, equities research analysts predict that Time Warner Inc. will post $5.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, November 28th. Time Warner’s dividend payout ratio is presently 32.01%.
Several research analysts have recently issued reports on TWX shares. Brean Capital restated a “buy” rating on shares of Time Warner in a report on Tuesday, July 26th. Albert Fried & Company restated a “buy” rating and set a $90.00 price objective on shares of Time Warner in a report on Wednesday, August 3rd. Vetr downgraded shares of Time Warner from a “strong-buy” rating to a “buy” rating and set a $84.06 price objective on the stock. in a report on Thursday, July 7th. Moffett Nathanson restated a “buy” rating and set a $87.00 price objective on shares of Time Warner in a report on Thursday, July 7th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Time Warner in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $94.51.
In related news, EVP Paul T. Cappuccio sold 56,595 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $78.24, for a total value of $4,427,992.80. Following the transaction, the executive vice president now directly owns 157,877 shares in the company, valued at $12,352,296.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Karen Magee sold 14,240 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $79.97, for a total transaction of $1,138,772.80. Following the completion of the transaction, the insider now owns 7,461 shares in the company, valued at $596,656.17. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.