Gerber Kawasaki Wealth & Investment Management bought a new position in Time Warner Inc (NYSE:TWX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 18,170 shares of the media conglomerate’s stock, valued at approximately $1,662,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Independent Franchise Partners LLP boosted its stake in Time Warner by 2.8% in the 3rd quarter. Independent Franchise Partners LLP now owns 6,765,645 shares of the media conglomerate’s stock worth $693,140,000 after purchasing an additional 186,323 shares during the period. Canyon Capital Advisors LLC boosted its stake in Time Warner by 3.7% in the 2nd quarter. Canyon Capital Advisors LLC now owns 5,906,054 shares of the media conglomerate’s stock worth $593,027,000 after purchasing an additional 210,206 shares during the period. Boston Partners boosted its stake in Time Warner by 0.9% in the 4th quarter. Boston Partners now owns 5,140,335 shares of the media conglomerate’s stock worth $470,187,000 after purchasing an additional 46,309 shares during the period. Empyrean Capital Partners LP boosted its stake in Time Warner by 93.1% in the 2nd quarter. Empyrean Capital Partners LP now owns 4,257,932 shares of the media conglomerate’s stock worth $427,539,000 after purchasing an additional 2,052,932 shares during the period. Finally, Legal & General Group Plc boosted its stake in Time Warner by 2.1% in the 3rd quarter. Legal & General Group Plc now owns 4,044,883 shares of the media conglomerate’s stock worth $414,386,000 after purchasing an additional 82,127 shares during the period. Institutional investors and hedge funds own 77.55% of the company’s stock.
Time Warner Inc (NYSE TWX) opened at $95.11 on Thursday. The firm has a market capitalization of $74,224.80, a PE ratio of 14.85, a P/E/G ratio of 1.28 and a beta of 0.94. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.64. Time Warner Inc has a 1-year low of $85.88 and a 1-year high of $103.90.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were paid a $0.4025 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $1.61 dividend on an annualized basis and a yield of 1.69%. Time Warner’s dividend payout ratio (DPR) is currently 24.32%.
Several research analysts have commented on the company. Barclays set a $100.00 target price on Time Warner and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Cowen restated a “hold” rating and issued a $107.50 target price on shares of Time Warner in a research note on Thursday, October 12th. Wells Fargo & Co restated a “market perform” rating and issued a $98.00 target price (up previously from $84.00) on shares of Time Warner in a research note on Thursday, January 4th. B. Riley restated a “neutral” rating and issued a $101.00 target price (down previously from $105.00) on shares of Time Warner in a research note on Friday, November 3rd. Finally, Deutsche Bank restated a “buy” rating and issued a $99.00 target price on shares of Time Warner in a research note on Friday, November 10th. Seventeen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $104.53.
In other Time Warner news, Director William P. Barr sold 4,019 shares of Time Warner stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $97.20, for a total value of $390,646.80. Following the transaction, the director now directly owns 44,959 shares of the company’s stock, valued at approximately $4,370,014.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of Time Warner stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $90.65, for a total value of $29,867,180.70. Following the completion of the transaction, the chief executive officer now directly owns 855,925 shares in the company, valued at $77,589,601.25. The disclosure for this sale can be found here. Insiders sold a total of 356,947 shares of company stock worth $32,369,031 over the last ninety days. Insiders own 0.16% of the company’s stock.
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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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