IBM Retirement Fund increased its position in shares of Time Warner Inc. (NYSE:TWX) by 70.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,988 shares of the media conglomerate’s stock after buying an additional 7,854 shares during the period. IBM Retirement Fund’s holdings in Time Warner were worth $2,131,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in TWX. Waldron LP increased its stake in Time Warner by 137.7% in the first quarter. Waldron LP now owns 5,340 shares of the media conglomerate’s stock worth $508,000 after buying an additional 3,093 shares during the last quarter. Baxter Bros Inc. acquired a new position in shares of Time Warner during the first quarter worth $18,528,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of Time Warner by 2.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 20,565 shares of the media conglomerate’s stock worth $1,879,000 after buying an additional 430 shares during the period. Havens Advisors LLC boosted its position in shares of Time Warner by 514.0% in the first quarter. Havens Advisors LLC now owns 98,237 shares of the media conglomerate’s stock worth $9,599,000 after buying an additional 82,237 shares during the period. Finally, CAPROCK Group Inc. boosted its position in shares of Time Warner by 7.0% in the first quarter. CAPROCK Group Inc. now owns 10,078 shares of the media conglomerate’s stock worth $985,000 after buying an additional 662 shares during the period. Hedge funds and other institutional investors own 78.76% of the company’s stock.
Time Warner Inc. (TWX) opened at 101.19 on Friday. The company has a market cap of $78.71 billion, a price-to-earnings ratio of 18.77 and a beta of 1.05. Time Warner Inc. has a 52-week low of $74.27 and a 52-week high of $103.34. The stock’s 50 day moving average is $101.16 and its 200 day moving average is $99.06.
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 Zacks’ 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 company had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the company posted $1.29 earnings per share. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a $0.4025 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.59%. Time Warner’s payout ratio is 29.98%.
A number of research analysts have weighed in on the stock. Royal Bank Of Canada set a $108.00 price target on shares of Time Warner and gave the company a “hold” rating in a research report on Monday, June 12th. MKM Partners reaffirmed a “neutral” rating and set a $107.50 price target (up from $90.00) on shares of Time Warner in a research report on Monday, May 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. Rosenblatt Securities reaffirmed a “neutral” rating and set a $105.00 price target on shares of Time Warner in a research report on Wednesday, May 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Time Warner has an average rating of “Hold” and a consensus target price of $102.25.
In other news, CFO Howard M. Averill acquired 255 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was purchased at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at $6,318,978.33. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.16% of the stock is owned by company 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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