Peapack Gladstone Financial Corp continued to hold its position in shares of Time Warner Inc. (NYSE:TWX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,669 shares of the media conglomerate’s stock at the end of the second quarter. Peapack Gladstone Financial Corp’s holdings in Time Warner were worth $268,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Segantii Capital Management Ltd acquired a new position in Time Warner in the 2nd quarter valued at approximately $33,886,000. Legal & General Group Plc raised its holdings in Time Warner by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 3,962,756 shares of the media conglomerate’s stock valued at $397,891,000 after acquiring an additional 99,059 shares in the last quarter. Blair William & Co. IL raised its holdings in Time Warner by 27.9% in the 2nd quarter. Blair William & Co. IL now owns 37,132 shares of the media conglomerate’s stock valued at $3,728,000 after acquiring an additional 8,096 shares in the last quarter. State of Wisconsin Investment Board raised its holdings in Time Warner by 1.3% in the 2nd quarter. State of Wisconsin Investment Board now owns 897,692 shares of the media conglomerate’s stock valued at $90,137,000 after acquiring an additional 11,740 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in Time Warner by 10.0% in the 1st quarter. Assetmark Inc. now owns 2,628 shares of the media conglomerate’s stock valued at $257,000 after acquiring an additional 239 shares in the last quarter. 79.19% of the stock is owned by hedge funds and other institutional investors.
Shares of Time Warner Inc. (TWX) opened at 103.35 on Wednesday. The firm has a market capitalization of $80.39 billion, a PE ratio of 19.17 and a beta of 1.02. Time Warner Inc. has a 12-month low of $78.32 and a 12-month high of $103.90. The company’s 50-day moving average price is $102.03 and its 200-day moving average price is $100.29.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.14. The company had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. Analysts anticipate that Time Warner Inc. will post $6.10 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a dividend of $0.4025 per share. The ex-dividend date is Friday, October 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.56%. Time Warner’s dividend payout ratio (DPR) is presently 29.98%.
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Several equities analysts have commented on TWX shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $108.00 price target on shares of Time Warner in a report on Friday, July 14th. BidaskClub cut Time Warner from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Time Warner in a report on Tuesday, September 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Finally, Credit Suisse Group cut Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price target for the company. in a report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, twenty-seven have given a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $102.91.
Time Warner 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 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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