SOL Capital Management CO Decreases Stake in Time Warner Inc. (TWX)
SOL Capital Management CO decreased its stake in Time Warner Inc. (NYSE:TWX) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,755 shares of the media conglomerate’s stock after selling 1,200 shares during the period. SOL Capital Management CO’s holdings in Time Warner were worth $1,783,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock valued at $4,184,660,000 after buying an additional 40,940,053 shares in the last quarter. Canyon Capital Advisors LLC boosted its position in shares of Time Warner by 397.0% in the first quarter. Canyon Capital Advisors LLC now owns 5,695,848 shares of the media conglomerate’s stock valued at $556,541,000 after buying an additional 4,549,848 shares in the last quarter. OZ Management LP boosted its position in shares of Time Warner by 98.2% in the first quarter. OZ Management LP now owns 6,243,467 shares of the media conglomerate’s stock valued at $610,049,000 after buying an additional 3,093,353 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Time Warner by 4,979.0% in the first quarter. Renaissance Technologies LLC now owns 2,678,334 shares of the media conglomerate’s stock valued at $261,700,000 after buying an additional 2,625,600 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock valued at $4,761,042,000 after buying an additional 1,740,936 shares in the last quarter. 79.78% of the stock is owned by institutional investors.
Time Warner Inc. (NYSE TWX) traded up 0.17% during midday trading on Friday, hitting $102.52. The stock had a trading volume of 2,688,354 shares. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The stock has a market cap of $79.66 billion, a P/E ratio of 19.01 and a beta of 1.05. The company has a 50-day moving average price of $100.19 and a 200-day moving average price of $98.55.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the company earned $1.29 EPS. Time Warner’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Time Warner Inc. will post $6.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.4025 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.61 annualized dividend and a yield of 1.57%. Time Warner’s payout ratio is 29.98%.
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TWX has been the subject of several research reports. FBR & Co reaffirmed a “buy” rating and set a $107.50 price target on shares of Time Warner in a research note on Friday, April 7th. MKM Partners reaffirmed a “neutral” rating and set a $107.50 price target (up from $90.00) on shares of Time Warner in a research note on Monday, May 1st. BMO Capital Markets reaffirmed a “hold” rating and set a $108.00 price target on shares of Time Warner in a research note on Monday, April 17th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $105.00 price target on shares of Time Warner in a research note on Wednesday, May 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Time Warner currently has an average rating of “Hold” and an average price target of $101.82.
In related news, CFO Howard M. Averill purchased 255 shares of Time Warner stock in a transaction that occurred on Thursday, June 15th. The shares were acquired 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 directly owns 63,399 shares in the company, valued at $6,318,978.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is owned by company 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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