Neuberger Berman Group LLC grew its stake in shares of Time Warner Inc. (NYSE:TWX) by 18.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,396,444 shares of the media conglomerate’s stock after acquiring an additional 216,072 shares during the period. Neuberger Berman Group LLC owned about 0.18% of Time Warner worth $140,217,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Time Warner by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock worth $4,761,042,000 after acquiring an additional 1,740,936 shares in the last quarter. BlackRock Inc. grew its holdings in Time Warner by 2,169.2% during the 1st quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock worth $4,184,660,000 after acquiring an additional 40,940,053 shares in the last quarter. State Street Corp grew its holdings in Time Warner by 2.1% during the 1st quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after acquiring an additional 688,860 shares in the last quarter. FMR LLC grew its holdings in Time Warner by 0.6% during the 1st quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after acquiring an additional 68,625 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Time Warner by 8.3% during the 1st quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock worth $710,380,000 after acquiring an additional 556,674 shares in the last quarter. 79.29% of the stock is owned by institutional investors.
In other Time Warner news, CFO Howard M. Averill bought 255 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the transaction, 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.16% of the company’s stock.
Several research analysts have weighed in on the stock. Sanford C. Bernstein reissued a “market perform” rating on shares of Time Warner in a report on Tuesday. Jefferies Group LLC restated a “hold” rating and issued a $105.00 price target on shares of Time Warner in a research report on Sunday. Royal Bank Of Canada restated a “hold” rating and issued a $108.00 price target on shares of Time Warner in a research report on Tuesday, August 15th. Zacks Investment Research downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Evercore ISI downgraded shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price target on the stock. in a research report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, twenty-six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $102.25.
Time Warner Inc. (NYSE:TWX) opened at 101.00 on Wednesday. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The firm has a market cap of $78.56 billion, a PE ratio of 18.74 and a beta of 1.04. The stock has a 50 day moving average of $101.65 and a 200 day moving average of $99.62.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the company posted $1.29 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Analysts anticipate that Time Warner Inc. will post $6.10 EPS for the current year.
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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