Cullen Frost Bankers Inc. Sells 3,269 Shares of Time Warner Inc. (TWX)

Cullen Frost Bankers Inc. decreased its position in shares of Time Warner Inc. (NYSE:TWX) by 2.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,300 shares of the media conglomerate’s stock after selling 3,269 shares during the period. Cullen Frost Bankers Inc.’s holdings in Time Warner were worth $11,376,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bellwether Investment Group LLC increased its position in Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after buying an additional 146 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in 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 worth $109,000 after buying an additional 100 shares in the last quarter. Advisory Services Network LLC acquired a new position in Time Warner during the first quarter worth about $138,000. Archford Capital Strategies LLC increased its position in Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock worth $155,000 after buying an additional 481 shares in the last quarter. Finally, City Holding Co. increased its position in Time Warner by 7.7% in the second quarter. City Holding Co. now owns 1,715 shares of the media conglomerate’s stock worth $172,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 78.76% of the company’s stock.

Shares of Time Warner Inc. (NYSE:TWX) opened at 101.42 on Friday. The firm has a market cap of $78.88 billion, a price-to-earnings ratio of 18.82 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 company’s 50-day moving average is $101.22 and its 200 day moving average is $99.25.

Time Warner (NYSE:TWX) last issued its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The business had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the business earned $1.29 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Thursday, July 6th. Time Warner’s dividend payout ratio is currently 29.98%.

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TWX has been the subject of a number of analyst reports. BidaskClub raised shares of Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC cut shares of Time Warner from a “buy” rating to a “hold” rating and set a $105.00 target price for the company. in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a “hold” rating and set a $108.00 target price on shares of Time Warner in a research report on Tuesday, August 15th. Zacks Investment Research cut shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Cowen and Company reissued a “hold” rating and set a $107.50 target price on shares of Time Warner in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Time Warner presently has an average rating of “Hold” and an average price target of $102.25.

In related news, CFO Howard M. Averill acquired 255 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were acquired at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the purchase, the chief financial officer now directly owns 63,399 shares in the company, valued at $6,318,978.33. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.16% of the stock is owned by insiders.

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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