Aperio Group LLC increased its stake in Time Warner Inc. (NYSE:TWX) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 413,087 shares of the media conglomerate’s stock after buying an additional 33,299 shares during the period. Aperio Group LLC owned about 0.05% of Time Warner worth $41,478,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of TWX. Renaissance Technologies LLC bought a new stake in shares of Time Warner during the fourth quarter valued at approximately $5,090,000. Wealthfront Inc. bought a new stake in shares of Time Warner during the fourth quarter valued at approximately $1,925,000. USA Financial Portformulas Corp bought a new stake in shares of Time Warner during the fourth quarter valued at approximately $3,874,000. Kentucky Retirement Systems bought a new stake in shares of Time Warner during the fourth quarter valued at approximately $5,402,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Time Warner during the fourth quarter valued at approximately $2,410,000. 80.02% of the stock is owned by institutional investors.
Time Warner Inc. (NYSE TWX) opened at 102.28 on Thursday. The stock has a 50 day moving average price of $100.71 and a 200 day moving average price of $98.80. The firm has a market capitalization of $79.47 billion, a price-to-earnings ratio of 18.96 and a beta of 1.05. Time Warner Inc. has a 1-year low of $74.27 and a 1-year high of $103.34.
Time Warner (NYSE:TWX) last announced its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating the 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 firm had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts predict that Time Warner Inc. will post $6.09 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.4025 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.61 annualized dividend and a yield of 1.57%. Time Warner’s dividend payout ratio (DPR) is 29.98%.
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Several brokerages have issued reports on TWX. Cowen and Company reaffirmed a “hold” rating and set a $107.50 target price on shares of Time Warner in a research note on Thursday, August 3rd. BidaskClub raised shares of Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC cut shares of Time Warner from a “buy” rating to a “hold” rating and set a $105.00 price target on the stock. in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Barclays PLC cut shares of Time Warner from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $95.00 to $107.00 in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $102.25.
In other news, CFO Howard M. Averill purchased 255 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was purchased at an average price of $99.67 per share, with a total value of $25,415.85. Following the acquisition, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The purchase was disclosed in a document filed with the SEC, which is accessible 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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