Gateway Investment Advisers LLC raised its holdings in shares of Time Warner Inc (NYSE:TWX) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 420,710 shares of the media conglomerate’s stock after acquiring an additional 2,586 shares during the quarter. Gateway Investment Advisers LLC owned approximately 0.05% of Time Warner worth $38,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Cowen Inc. raised its position in shares of Time Warner by 833.4% during the 3rd quarter. Cowen Inc. now owns 2,576,195 shares of the media conglomerate’s stock valued at $263,933,000 after purchasing an additional 2,300,205 shares during the period. Janus Henderson Group PLC raised its position in shares of Time Warner by 2,022.3% during the 2nd quarter. Janus Henderson Group PLC now owns 2,171,828 shares of the media conglomerate’s stock valued at $218,073,000 after purchasing an additional 2,069,495 shares during the period. Empyrean Capital Partners LP raised its position in shares of Time Warner by 93.1% during the 2nd quarter. Empyrean Capital Partners LP now owns 4,257,932 shares of the media conglomerate’s stock valued at $427,539,000 after purchasing an additional 2,052,932 shares during the period. Farallon Capital Management LLC raised its position in shares of Time Warner by 37.3% during the 2nd quarter. Farallon Capital Management LLC now owns 6,980,000 shares of the media conglomerate’s stock valued at $700,862,000 after purchasing an additional 1,895,000 shares during the period. Finally, BlackRock Inc. raised its position in shares of Time Warner by 4.0% during the 2nd quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock valued at $4,470,656,000 after purchasing an additional 1,696,681 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.
In other news, insider Olaf Olafsson sold 23,450 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $90.03, for a total value of $2,111,203.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey L. Bewkes sold 329,478 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $90.65, for a total transaction of $29,867,180.70. Following the completion of the sale, the chief executive officer now owns 855,925 shares in the company, valued at $77,589,601.25. The disclosure for this sale can be found here. Insiders own 0.16% of the company’s stock.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.23. Time Warner had a net margin of 13.59% and a return on equity of 18.57%. The company had revenue of $7.60 billion for the quarter, compared to the consensus estimate of $7.40 billion. During the same period in the previous year, the firm posted $1.83 EPS. Time Warner’s revenue for the quarter was up 6.0% compared to the same quarter last year. equities analysts anticipate that Time Warner Inc will post 6.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a $0.4025 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.75%. Time Warner’s dividend payout ratio (DPR) is presently 30.61%.
Several analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Time Warner from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. Needham & Company LLC restated a “hold” rating on shares of Time Warner in a research report on Tuesday, September 26th. Wells Fargo & Co restated a “market perform” rating and set a $98.00 price objective (up from $84.00) on shares of Time Warner in a research report on Thursday, January 4th. Pivotal Research restated a “buy” rating and set a $108.00 price objective (up from $103.00) on shares of Time Warner in a research report on Tuesday, January 9th. Finally, Guggenheim restated a “buy” rating on shares of Time Warner in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $105.13.
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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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