Neuberger Berman Group LLC reduced its position in shares of Time Warner Inc. (NYSE:TWX) by 12.4% during the third quarter, Holdings Channel reports. The firm owned 1,077,532 shares of the media conglomerate’s stock after selling 152,177 shares during the period. Neuberger Berman Group LLC owned about 0.14% of Time Warner worth $85,782,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. BKD Wealth Advisors LLC boosted its position in Time Warner by 3.3% in the second quarter. BKD Wealth Advisors LLC now owns 15,859 shares of the media conglomerate’s stock worth $1,166,000 after buying an additional 507 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Time Warner by 0.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,978 shares of the media conglomerate’s stock worth $513,000 after buying an additional 22 shares in the last quarter. Alpha Windward LLC boosted its position in Time Warner by 31.7% in the second quarter. Alpha Windward LLC now owns 2,591 shares of the media conglomerate’s stock worth $191,000 after buying an additional 624 shares in the last quarter. Trust Co boosted its position in Time Warner by 1.7% in the first quarter. Trust Co now owns 10,105 shares of the media conglomerate’s stock worth $733,000 after buying an additional 172 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. boosted its position in Time Warner by 1.0% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 721,685 shares of the media conglomerate’s stock worth $53,073,000 after buying an additional 7,274 shares in the last quarter. 80.32% of the stock is owned by institutional investors and hedge funds.
Time Warner Inc. (NYSE:TWX) traded up 0.32% during mid-day trading on Monday, reaching $93.09. The company had a trading volume of 2,483,709 shares. Time Warner Inc. has a 1-year low of $55.53 and a 1-year high of $94.44. The firm has a 50-day moving average of $86.11 and a 200 day moving average of $78.90. The company has a market capitalization of $71.78 billion, a PE ratio of 16.56 and a beta of 1.08.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, November 2nd. The media conglomerate reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.46. Time Warner had a return on equity of 18.95% and a net margin of 15.75%. The company earned $7.20 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Time Warner Inc. will post $5.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.4025 per share. The ex-dividend date is Monday, November 28th. This represents a $1.61 dividend on an annualized basis and a yield of 1.73%. Time Warner’s dividend payout ratio is currently 28.60%.
A number of research firms have issued reports on TWX. Wedbush upgraded Time Warner from a “neutral” rating to an “outperform” rating in a research report on Tuesday, October 25th. MKM Partners cut Time Warner from a “buy” rating to a “neutral” rating and set a $107.50 target price on the stock. in a research report on Monday, October 24th. Deutsche Bank AG restated a “buy” rating and set a $108.00 price target on shares of Time Warner in a report on Friday, November 4th. RBC Capital Markets restated an “outperform” rating and set a $95.00 price target (up from $92.00) on shares of Time Warner in a report on Thursday, August 4th. Finally, Royal Bank Of Canada boosted their price target on Time Warner from $92.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $95.04.
In other Time Warner news, EVP Paul T. Cappuccio sold 56,595 shares of Time Warner stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $78.24, for a total transaction of $4,427,992.80. Following the completion of the sale, the executive vice president now owns 157,877 shares of the company’s stock, valued at approximately $12,352,296.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company 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 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.