Fifth Third Bancorp reduced its position in shares of Time Warner Inc. (NYSE:TWX) by 1.3% during the first quarter, Holdings Channel reports. The firm owned 498,211 shares of the media conglomerate’s stock after selling 6,810 shares during the period. Fifth Third Bancorp’s holdings in Time Warner were worth $48,680,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Chevy Chase Trust Holdings Inc. increased its position in Time Warner by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 705,679 shares of the media conglomerate’s stock worth $68,951,000 after buying an additional 18,540 shares during the period. Park National Corp OH increased its position in Time Warner by 18.4% in the first quarter. Park National Corp OH now owns 2,453 shares of the media conglomerate’s stock worth $240,000 after buying an additional 381 shares during the period. Macquarie Group Ltd. increased its position in Time Warner by 38.5% in the fourth quarter. Macquarie Group Ltd. now owns 194,948 shares of the media conglomerate’s stock worth $18,818,000 after buying an additional 54,179 shares during the period. Philadelphia Trust Co. boosted its stake in Time Warner by 23.4% in the fourth quarter. Philadelphia Trust Co. now owns 191,406 shares of the media conglomerate’s stock worth $18,476,000 after buying an additional 36,335 shares in the last quarter. Finally, Empyrean Capital Partners LP purchased a new stake in Time Warner during the fourth quarter worth approximately $123,616,000. 79.86% of the stock is currently owned by institutional investors.
Time Warner Inc. (NYSE:TWX) opened at 99.10 on Wednesday. The company has a 50-day moving average of $99.72 and a 200-day moving average of $98.10. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $102.45. The company has a market capitalization of $76.86 billion, a PE ratio of 18.90 and a beta of 1.05.
Time Warner (NYSE:TWX) last posted its earnings results on Wednesday, May 3rd. The media conglomerate reported $1.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.22. Time Warner had a net margin of 13.90% and a return on equity of 19.45%. The business had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.66 billion. During the same period in the prior year, the company posted $1.49 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that Time Warner Inc. will post $6.04 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be issued a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, July 6th. Time Warner’s payout ratio is 30.78%.
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TWX has been the subject of a number of recent analyst reports. Rosenblatt Securities initiated coverage on shares of Time Warner in a research report on Tuesday, April 4th. They issued a “neutral” rating and a $105.00 price objective for the company. FBR & Co restated a “buy” rating and issued a $107.50 price objective on shares of Time Warner in a research report on Friday, April 7th. BMO Capital Markets restated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research report on Monday, April 17th. Pivotal Research cut shares of Time Warner from a “buy” rating to a “hold” rating and upped their price objective for the company from $100.00 to $107.50 in a research report on Thursday, April 20th. Finally, MKM Partners restated a “neutral” rating and issued a $107.50 price objective (up previously from $90.00) on shares of Time Warner in a research report on Monday, May 1st. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $100.95.
In related news, CFO Howard M. Averill purchased 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were 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 of the company’s stock, valued at $6,318,978.33. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.16% of the stock is owned by corporate insiders.
Time Warner Company 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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