Time Warner Inc. (TWX) Shares Bought by First National Trust Co.
First National Trust Co. boosted its stake in Time Warner Inc. (NYSE:TWX) by 7.2% during the second quarter, Holdings Channel reports. The firm owned 31,603 shares of the media conglomerate’s stock after buying an additional 2,125 shares during the period. First National Trust Co.’s holdings in Time Warner were worth $2,324,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC bought a new stake in shares of Time Warner during the first quarter worth $109,000. City Holding Co. boosted its stake in shares of 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 period. NEXT Financial Group Inc boosted its stake in shares of 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 period. Alpha Windward LLC boosted its stake in shares of 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 period. Finally, Stock Yards Bank & Trust Co. bought a new stake in shares of Time Warner during the second quarter worth $208,000. 80.68% of the stock is owned by institutional investors and hedge funds.
Time Warner Inc. (NYSE:TWX) traded up 1.27% during midday trading on Friday, hitting $79.61. 4,446,003 shares of the stock traded hands. Time Warner Inc. has a 1-year low of $55.53 and a 1-year high of $81.33. The company has a 50-day moving average price of $78.48 and a 200-day moving average price of $75.62. The firm has a market cap of $61.92 billion, a P/E ratio of 15.84 and a beta of 1.18.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.13. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7.12 billion. Time Warner had a net margin of 14.54% and a return on equity of 17.33%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. Analysts predict that Time Warner Inc. will post $5.42 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Monday, August 29th. Time Warner’s dividend payout ratio (DPR) is currently 32.01%.
A number of brokerages recently weighed in on TWX. FBR & Co cut shares of Time Warner from an “outperform” rating to a “market perform” rating and set a $81.00 price target for the company. in a research report on Tuesday, July 26th. Albert Fried & Company restated an “outperform” rating and issued a $90.00 price objective on shares of Time Warner in a research note on Thursday. Brean Capital restated a “buy” rating on shares of Time Warner in a research note on Tuesday, July 26th. RBC Capital Markets restated an “outperform” rating and issued a $95.00 price objective (up from $92.00) on shares of Time Warner in a research note on Thursday, August 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of Time Warner from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average 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 shares were sold at an average price of $79.97, for a total value of $1,138,772.80. Following the transaction, the insider now directly owns 7,461 shares of the company’s stock, valued at $596,656.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 transaction of $4,427,992.80. Following the completion of the transaction, the executive vice president now directly owns 157,877 shares in the company, valued at $12,352,296.48. The disclosure for this sale can be found here. 0.16% of the stock is currently 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 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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