Cumberland Partners Ltd Sells 2,400 Shares of Time Warner Inc. (TWX)
Cumberland Partners Ltd lowered its position in Time Warner Inc. (NYSE:TWX) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,750 shares of the media conglomerate’s stock after selling 2,400 shares during the period. Time Warner accounts for about 1.0% of Cumberland Partners Ltd’s holdings, making the stock its 28th largest position. Cumberland Partners Ltd’s holdings in Time Warner were worth $7,262,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in TWX. Baker Ellis Asset Management LLC bought a new stake in Time Warner during the first quarter worth $109,000. City Holding Co. boosted its stake in Time Warner by 2.3% in the second quarter. City Holding Co. now owns 1,592 shares of the media conglomerate’s stock worth $117,000 after buying an additional 36 shares during the last quarter. NEXT Financial Group Inc boosted its stake in Time Warner by 59.9% in the second quarter. NEXT Financial Group Inc now owns 2,125 shares of the media conglomerate’s stock worth $156,000 after buying an additional 796 shares during the last quarter. Alpha Windward LLC boosted its stake in Time Warner by 31.7% in the second quarter. Alpha Windward LLC now owns 2,591 shares of the media conglomerate’s stock worth $191,000 after buying an additional 624 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. bought a new stake in Time Warner during the second quarter worth $208,000. 80.68% of the stock is currently owned by institutional investors.
Time Warner Inc. (NYSE:TWX) traded up 0.85% during mid-day trading on Thursday, reaching $77.31. 2,827,517 shares of the company were exchanged. Time Warner Inc. has a 12 month low of $55.53 and a 12 month high of $81.33. The company has a market cap of $60.13 billion, a P/E ratio of 15.38 and a beta of 1.18. The stock’s 50-day moving average is $78.69 and its 200-day moving average is $75.30.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.13. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the firm earned $1.25 EPS. Time Warner’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts expect that Time Warner Inc. will post $5.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, August 29th. Time Warner’s payout ratio is presently 32.01%.
TWX has been the topic of a number of recent research reports. Vetr cut shares of Time Warner from a “strong-buy” rating to a “buy” rating and set a $84.06 target price on the stock. in a report on Thursday, July 7th. Moffett Nathanson reaffirmed a “buy” rating and issued a $87.00 target price on shares of Time Warner in a report on Thursday, July 7th. Brean Capital initiated coverage on shares of Time Warner in a report on Thursday, July 7th. They issued a “buy” rating and a $90.00 target price on the stock. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Time Warner in a report on Wednesday, July 6th. Finally, Albert Fried & Company reaffirmed a “buy” rating and issued a $90.00 target price on shares of Time Warner in a report on Thursday, May 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $86.17.
In other news, insider Karen Magee sold 14,240 shares of Time Warner stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $79.97, for a total transaction of $1,138,772.80. Following the sale, the insider now owns 7,461 shares of the company’s stock, valued at approximately $596,656.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul T. Cappuccio sold 56,595 shares of Time Warner stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $78.24, for a total value of $4,427,992.80. Following the sale, the executive vice president now directly owns 157,877 shares in the company, valued at approximately $12,352,296.48. The disclosure for this sale can be found here. 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 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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