Time Warner Inc. (NYSE:TWX) Position Reduced by Highland Capital Management LLC
Highland Capital Management LLC cut its position in shares of Time Warner Inc. (NYSE:TWX) by 73.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,200 shares of the media conglomerate’s stock after selling 6,056 shares during the period. Highland Capital Management LLC’s holdings in Time Warner were worth $221,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock worth $4,761,042,000 after buying an additional 1,740,936 shares in the last quarter. BlackRock Inc. increased its stake in Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock worth $4,184,660,000 after buying an additional 40,940,053 shares in the last quarter. State Street Corp increased its stake in Time Warner by 2.1% in the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after buying an additional 688,860 shares in the last quarter. 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 in the last quarter. Finally, Geode Capital Management LLC increased its stake in Time Warner by 8.3% in the first quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock worth $710,380,000 after buying an additional 556,674 shares in the last quarter. Institutional investors and hedge funds own 79.87% of the company’s stock.
Time Warner Inc. (NYSE:TWX) opened at 100.42 on Tuesday. The company’s 50-day moving average price is $99.75 and its 200 day moving average price is $98.19. The firm has a market capitalization of $77.88 billion, a PE ratio of 19.16 and a beta of 1.05. Time Warner Inc. has a 12 month low of $74.27 and a 12 month high of $102.45.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, May 3rd. The media conglomerate reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 EPS. On average, equities research analysts predict that Time Warner Inc. will post $6.04 earnings per share for the current 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 paid a dividend of $0.4025 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a yield of 1.61%. Time Warner’s dividend payout ratio (DPR) is currently 30.78%.
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A number of equities research analysts recently commented on TWX shares. BidaskClub downgraded Time Warner from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reiterated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a report on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $105.00 price objective on shares of Time Warner in a report on Monday, May 22nd. Zacks Investment Research upgraded Time Warner from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a report on Thursday, July 13th. Finally, Pivotal Research downgraded Time Warner from a “buy” rating to a “hold” rating and upped their price objective for the company from $100.00 to $107.50 in a report on Thursday, April 20th. One equities research 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 given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $100.95.
In related news, CFO Howard M. Averill purchased 255 shares of the business’s stock in a transaction on Thursday, June 15th. The stock was acquired at an average price of $99.67 per share, for a total transaction of $25,415.85. Following the purchase, the chief financial officer now owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.16% of the stock is currently owned by insiders.
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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