Marshall Wace North America L.P. Purchases New Stake in Time Warner Inc. (TWX)
Marshall Wace North America L.P. purchased a new stake in shares of Time Warner Inc. (NYSE:TWX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 235,112 shares of the media conglomerate’s stock, valued at approximately $23,041,000.
Other institutional investors also recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC raised its position in Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after buying an additional 100 shares during the last quarter. Carroll Financial Associates Inc. raised its position in Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock valued at $122,000 after buying an additional 33 shares during the last quarter. Advisory Services Network LLC bought a new position in Time Warner during the first quarter valued at $138,000. Asset Dedication LLC raised its position in Time Warner by 14.6% in the first quarter. Asset Dedication LLC now owns 1,729 shares of the media conglomerate’s stock valued at $169,000 after buying an additional 220 shares during the last quarter. Finally, Burt Wealth Advisors raised its position in Time Warner by 28.0% in the first quarter. Burt Wealth Advisors now owns 1,982 shares of the media conglomerate’s stock valued at $194,000 after buying an additional 434 shares during the last quarter. Institutional investors own 79.86% of the company’s stock.
Time Warner Inc. (NYSE TWX) opened at 99.47 on Friday. The firm’s 50 day moving average is $99.73 and its 200 day moving average is $98.12. Time Warner Inc. has a 1-year low of $74.27 and a 1-year high of $102.45. The stock has a market capitalization of $77.14 billion, a P/E ratio of 18.98 and a beta of 1.05.
Time Warner (NYSE:TWX) last posted its earnings results on Wednesday, May 3rd. The media conglomerate reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.66 billion. Time Warner had a return on equity of 19.45% and a net margin of 13.90%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.49 EPS. On average, equities research analysts anticipate that Time Warner Inc. will post $6.04 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be given a dividend of $0.4025 per share. The ex-dividend date is Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.62%. Time Warner’s dividend payout ratio is currently 30.78%.
A number of equities analysts have weighed in on the stock. BMO Capital Markets reiterated a “hold” rating and set a $108.00 target price on shares of Time Warner in a research report on Monday, April 17th. MKM Partners reiterated a “neutral” rating and set a $107.50 target price (up previously from $90.00) on shares of Time Warner in a research report on Monday, May 1st. Royal Bank Of Canada set a $108.00 target price on shares of Time Warner and gave the stock a “hold” rating in a research report on Monday, June 12th. Rosenblatt Securities reiterated a “neutral” rating and set a $105.00 target price on shares of Time Warner in a research report on Wednesday, May 3rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $100.95.
In other news, CFO Howard M. Averill bought 255 shares of the stock in a transaction dated Thursday, June 15th. The stock was purchased at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the transaction, the chief financial officer now owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate 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 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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