Sit Investment Associates Inc. Has $3,955,000 Position in Time Warner Inc. (TWX)
Sit Investment Associates Inc. reduced its position in Time Warner Inc. (NYSE:TWX) by 34.1% during the second quarter, Holdings Channel reports. The institutional investor owned 53,780 shares of the media conglomerate’s stock after selling 27,780 shares during the period. Sit Investment Associates Inc.’s holdings in Time Warner were worth $3,955,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Cannell Peter B & Co Inc raised its stake in shares of Time Warner by 2,810.1% in the first quarter. Cannell Peter B & Co Inc now owns 743,525 shares of the media conglomerate’s stock worth $53,943,000 after buying an additional 717,975 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Time Warner by 50.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,807,086 shares of the media conglomerate’s stock worth $131,104,000 after buying an additional 603,700 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Time Warner during the second quarter worth $41,813,000. BB&T Securities LLC raised its stake in shares of Time Warner by 514.5% in the first quarter. BB&T Securities LLC now owns 478,589 shares of the media conglomerate’s stock worth $34,721,000 after buying an additional 400,711 shares in the last quarter. Finally, AMF Pensionsforsakring AB raised its stake in shares of Time Warner by 32.8% in the first quarter. AMF Pensionsforsakring AB now owns 1,291,207 shares of the media conglomerate’s stock worth $93,677,000 after buying an additional 318,570 shares in the last quarter. Hedge funds and other institutional investors own 80.68% of the company’s stock.
Shares of Time Warner Inc. (NYSE:TWX) traded down 0.85% during midday trading on Friday, reaching $78.98. The company’s stock had a trading volume of 2,913,747 shares. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of 15.71 and a beta of 1.21. The stock’s 50 day moving average price is $78.29 and its 200 day moving average price is $75.90. Time Warner Inc. has a one year low of $55.53 and a one year high of $81.33.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.13. The business earned $7 billion during the quarter, compared to analyst estimates of $7.12 billion. Time Warner had a return on equity of 17.33% and a net margin of 14.54%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Analysts predict that Time Warner Inc. will post $5.42 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.4025 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 2.04%. Time Warner’s payout ratio is currently 32.01%.
Several research firms recently weighed in on TWX. Jefferies Group restated a “buy” rating on shares of Time Warner in a research report on Thursday, August 25th. Loop Capital restated a “buy” rating and set a $96.00 price target on shares of Time Warner in a research report on Wednesday, August 17th. Credit Suisse Group AG restated a “buy” rating and set a $90.00 price target on shares of Time Warner in a research report on Friday, August 12th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Time Warner in a research report on Wednesday, July 6th. Finally, Deutsche Bank AG lifted their price target on Time Warner from $93.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. One equities research 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 issued a strong buy rating to the company. Time Warner presently has an average rating of “Buy” and an average target price of $86.17.
In other news, EVP Paul T. Cappuccio sold 56,595 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 157,877 shares in the company, valued at approximately $12,352,296.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karen Magee sold 14,240 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 7,461 shares in the company, valued at $596,656.17. The disclosure for this sale can be found here. Company insiders own 0.16% of the company’s stock.
Time Warner Company Profile
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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