Rehmann Capital Advisory Group Has $271,000 Stake in Time Warner Inc. (NYSE:TWX)
Rehmann Capital Advisory Group reduced its position in Time Warner Inc. (NYSE:TWX) by 44.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,695 shares of the media conglomerate’s stock after selling 2,175 shares during the period. Rehmann Capital Advisory Group’s holdings in Time Warner were worth $271,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. raised its position in Time Warner by 1.4% in the first quarter. Raymond James Trust N.A. now owns 19,622 shares of the media conglomerate’s stock worth $1,917,000 after buying an additional 269 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Time Warner during the first quarter worth approximately $244,000. Chevy Chase Trust Holdings Inc. raised its position in Time Warner by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 705,679 shares of the media conglomerate’s stock worth $68,951,000 after buying an additional 18,540 shares during the last quarter. Park National Corp OH raised its position in Time Warner by 18.4% in the first quarter. Park National Corp OH now owns 2,453 shares of the media conglomerate’s stock worth $240,000 after buying an additional 381 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Time Warner by 38.5% in the fourth quarter. Macquarie Group Ltd. now owns 194,948 shares of the media conglomerate’s stock worth $18,818,000 after buying an additional 54,179 shares during the last quarter. 79.87% of the stock is owned by hedge funds and other institutional investors.
Time Warner Inc. (NYSE TWX) opened at 99.47 on Monday. Time Warner Inc. has a 12-month low of $74.27 and a 12-month high of $102.45. The stock has a market capitalization of $77.14 billion, a price-to-earnings ratio of 18.98 and a beta of 1.05. The stock’s 50 day moving average is $99.73 and its 200 day moving average is $98.12.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Wednesday, May 3rd. The media conglomerate reported $1.66 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same period last year, the firm earned $1.49 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts predict that Time Warner Inc. will post $6.04 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be issued a $0.4025 dividend. The ex-dividend date of this dividend 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%.
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A number of research firms have recently commented on TWX. Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Pivotal Research downgraded Time Warner from a “buy” rating to a “hold” rating and increased their price objective for the stock from $100.00 to $107.50 in a research report on Thursday, April 20th. Royal Bank Of Canada set a $108.00 price objective on Time Warner and gave the stock a “hold” rating in a research report on Monday, June 12th. BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Zacks Investment Research upgraded Time Warner from a “hold” rating to a “buy” rating and set a $113.00 price objective on the stock in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $100.95.
In related news, CFO Howard M. Averill purchased 255 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was acquired at an average price of $99.67 per share, with a total value of $25,415.85. Following the completion of the acquisition, the chief financial officer now owns 63,399 shares in the company, valued at approximately $6,318,978.33. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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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