Traders Sell Time Warner Inc. (TWX) on Strength (TWX)
Investors sold shares of Time Warner Inc. (NYSE:TWX) on strength during trading hours on Thursday. $55.88 million flowed into the stock on the tick-up and $78.86 million flowed out of the stock on the tick-down, for a money net flow of $22.98 million out of the stock. Of all companies tracked, Time Warner had the 0th highest net out-flow for the day. Time Warner traded up $1.57 for the day and closed at $76.11
A number of research firms recently commented on TWX. Needham & Company LLC reiterated a “hold” rating on shares of Time Warner in a research note on Tuesday, April 19th. Nomura Holdings Inc. raised their price objective on shares of Time Warner from $80.00 to $82.00 and gave the company a “neutral” rating in a research note on Thursday, May 5th. Pacific Crest reiterated a “hold” rating on shares of Time Warner in a research note on Sunday, May 22nd. MKM Partners raised their price objective on shares of Time Warner from $78.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, April 28th. Finally, Goldman Sachs Group Inc. raised their price objective on shares of Time Warner from $81.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, May 5th. Ten research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $84.69.
The stock has a 50 day moving average of $73.74 and a 200-day moving average of $71.26. The company has a market cap of $61.31 billion and a P/E ratio of 15.64.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, May 4th. The media conglomerate reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.19. The company earned $7.30 billion during the quarter, compared to analyst estimates of $7.33 billion. During the same quarter last year, the company earned $1.19 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities research analysts predict that Time Warner Inc. will post $5.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st were issued a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, May 26th.
In related news, CEO Jeffrey L. Bewkes sold 272,710 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $74.26, for a total transaction of $20,251,444.60. Following the completion of the transaction, the chief executive officer now owns 354,823 shares in the company, valued at $26,349,155.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen F. Bollenbach sold 8,038 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $74.23, for a total transaction of $596,660.74. Following the transaction, the director now owns 31,297 shares of the company’s stock, valued at approximately $2,323,176.31. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of Time Warner by 1.5% in the fourth quarter. Brighton Jones LLC now owns 15,840 shares of the media conglomerate’s stock valued at $1,024,000 after buying an additional 237 shares during the last quarter. Auxier Asset Management boosted its position in shares of Time Warner by 0.6% in the fourth quarter. Auxier Asset Management now owns 16,876 shares of the media conglomerate’s stock valued at $1,091,000 after buying an additional 100 shares during the last quarter. MetLife Securities Inc boosted its position in shares of Time Warner by 40.5% in the fourth quarter. MetLife Securities Inc now owns 17,151 shares of the media conglomerate’s stock valued at $1,109,000 after buying an additional 4,947 shares during the last quarter. Cowen Group Inc. acquired a new position in shares of Time Warner during the fourth quarter valued at approximately $1,122,000. Finally, Ray Gerald L & Associates Ltd. boosted its position in shares of Time Warner by 5.3% in the fourth quarter. Ray Gerald L & Associates Ltd. now owns 17,839 shares of the media conglomerate’s stock valued at $1,154,000 after buying an additional 905 shares during the last quarter.
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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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