Time Warner Inc. (NYSE:TWX) Position Increased by King Luther Capital Management Corp
King Luther Capital Management Corp raised its stake in shares of Time Warner Inc. (NYSE:TWX) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,741,655 shares of the media conglomerate’s stock after buying an additional 45,395 shares during the period. Time Warner makes up 1.6% of King Luther Capital Management Corp’s holdings, making the stock its 13th largest position. King Luther Capital Management Corp owned approximately 0.22% of Time Warner worth $170,177,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. Bellwether Investment Group LLC raised its position in Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after buying an additional 146 shares during the period. 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 period. 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 period. Advisory Services Network LLC acquired a new position in Time Warner during the first quarter valued at approximately $138,000. Finally, 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 period. 79.87% of the stock is currently owned by hedge funds and other institutional investors.
Time Warner Inc. (NYSE:TWX) opened at 101.65 on Thursday. Time Warner Inc. has a 12-month low of $74.27 and a 12-month high of $102.45. The firm has a market cap of $78.83 billion, a price-to-earnings ratio of 19.39 and a beta of 1.05. The company’s 50 day moving average is $99.81 and its 200 day moving average is $98.25.
Time Warner (NYSE:TWX) last announced its quarterly earnings results 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 company had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.66 billion. During the same quarter in the prior year, the business posted $1.49 EPS. Time Warner’s quarterly revenue was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that Time Warner Inc. will post $6.04 earnings per share for the current year.
The firm also recently declared 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 of this dividend is Thursday, July 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.58%. Time Warner’s dividend payout ratio (DPR) is 30.78%.
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Several equities analysts recently commented on the company. BMO Capital Markets reissued a “hold” rating and issued a $108.00 target price on shares of Time Warner in a report on Monday, April 17th. MKM Partners reissued a “neutral” rating and issued a $107.50 target price (up previously from $90.00) on shares of Time Warner in a report on Monday, May 1st. Royal Bank Of Canada set a $108.00 target price on Time Warner and gave the company a “hold” rating in a report on Monday, June 12th. Rosenblatt Securities reissued a “neutral” rating and issued a $105.00 target price on shares of Time Warner in a report on Wednesday, May 3rd. Finally, Morgan Stanley restated an “overweight” rating on shares of Time Warner in a research note on Thursday, July 6th. One 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 stock. The company presently has a consensus rating of “Hold” and a consensus price target of $100.95.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the company’s stock in a transaction dated Thursday, June 15th. The shares were bought 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 directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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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