Korea Investment CORP reduced its stake in shares of Time Warner Inc. (NYSE:TWX) by 8.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 739,737 shares of the media conglomerate’s stock after selling 71,398 shares during the period. Korea Investment CORP owned 0.10% of Time Warner worth $74,277,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Bellwether Investment Group LLC increased its stake in shares of Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after buying an additional 146 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after buying an additional 100 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Time Warner during the first quarter valued at about $138,000. Archford Capital Strategies LLC increased its stake in shares of Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock valued at $155,000 after buying an additional 481 shares during the period. Finally, City Holding Co. increased its stake in shares of Time Warner by 7.7% in the second quarter. City Holding Co. now owns 1,715 shares of the media conglomerate’s stock valued at $172,000 after buying an additional 123 shares during the period. 78.76% of the stock is owned by institutional investors.
Time Warner Inc. (TWX) opened at 101.32 on Friday. The stock’s 50 day moving average price is $101.23 and its 200-day moving average price is $99.21. Time Warner Inc. has a one year low of $74.27 and a one year high of $103.34. The firm has a market capitalization of $78.81 billion, a price-to-earnings ratio of 18.80 and a beta of 1.05.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter last year, the company posted $1.29 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts anticipate that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.4025 dividend. The ex-dividend date was Thursday, July 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.59%. Time Warner’s payout ratio is 29.98%.
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TWX has been the subject of several recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Time Warner in a research report on Monday, May 22nd. BidaskClub downgraded shares of Time Warner from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Zacks Investment Research raised shares of Time Warner from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research report on Thursday, July 13th. Barclays PLC downgraded shares of Time Warner from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $95.00 to $107.00 in a research report on Friday, August 4th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Time Warner presently has a consensus rating of “Hold” and an average price target of $102.25.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were bought at an average price of $99.67 per share, for a total transaction of $25,415.85. Following the purchase, 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 document filed with the SEC, which is available through this hyperlink. Company insiders own 0.16% of the company’s stock.
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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