S. Muoio & CO. LLC Increases Position in Time Warner Inc. (NYSE:TWX)
S. Muoio & CO. LLC raised its stake in shares of Time Warner Inc. (NYSE:TWX) by 36.6% during the first quarter, Holdings Channel reports. The institutional investor owned 74,668 shares of the media conglomerate’s stock after buying an additional 20,000 shares during the period. Time Warner makes up 3.4% of S. Muoio & CO. LLC’s investment portfolio, making the stock its 6th largest position. S. Muoio & CO. LLC’s holdings in Time Warner were worth $7,296,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. FMR LLC increased its stake in Time Warner by 0.6% in the first quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after buying an additional 68,625 shares during the last quarter. Independent Franchise Partners LLP increased its stake in Time Warner by 9.4% in the first quarter. Independent Franchise Partners LLP now owns 6,485,191 shares of the media conglomerate’s stock worth $633,668,000 after buying an additional 558,751 shares during the last quarter. Legal & General Group Plc increased its stake in Time Warner by 3.2% in the first quarter. Legal & General Group Plc now owns 3,863,697 shares of the media conglomerate’s stock worth $377,527,000 after buying an additional 120,177 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Time Warner by 4.8% in the first quarter. First Eagle Investment Management LLC now owns 3,012,842 shares of the media conglomerate’s stock worth $294,385,000 after buying an additional 138,126 shares during the last quarter. Finally, Swiss National Bank increased its stake in Time Warner by 26.1% in the first quarter. Swiss National Bank now owns 2,732,408 shares of the media conglomerate’s stock worth $266,984,000 after buying an additional 565,900 shares during the last quarter. 79.86% of the stock is owned by institutional investors.
Shares of Time Warner Inc. (NYSE:TWX) opened at 99.15 on Thursday. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $102.45. The firm’s 50-day moving average is $99.73 and its 200-day moving average is $98.11. The stock has a market capitalization of $76.89 billion, a price-to-earnings ratio of 18.91 and a beta of 1.05.
Time Warner (NYSE:TWX) last posted its quarterly earnings data on Wednesday, May 3rd. The media conglomerate reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.22. Time Warner had a net margin of 13.90% and a return on equity of 19.45%. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.66 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts forecast that Time Warner Inc. will post $6.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be paid a dividend of $0.4025 per share. The ex-dividend date is Thursday, July 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.62%. Time Warner’s payout ratio is currently 30.78%.
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A number of research firms have weighed in on TWX. Zacks Investment Research upgraded Time Warner from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Thursday, July 13th. Royal Bank Of Canada restated a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Friday, July 14th. BidaskClub downgraded Time Warner from a “buy” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley restated an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $100.95.
In related news, CFO Howard M. Averill acquired 255 shares of the stock in a transaction dated Thursday, June 15th. The stock was acquired at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the purchase, the chief financial officer now owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The purchase was disclosed in a document filed with the SEC, which is available through this link. 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 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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