Palisades Hudson Asset Management L.P. Has $630,000 Stake in Time Warner Inc. (NYSE:TWX)
Palisades Hudson Asset Management L.P. continued to hold its position in Time Warner Inc. (NYSE:TWX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,450 shares of the media conglomerate’s stock at the end of the first quarter. Time Warner comprises 0.4% of Palisades Hudson Asset Management L.P.’s investment portfolio, making the stock its 25th largest position. Palisades Hudson Asset Management L.P.’s holdings in Time Warner were worth $630,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. bought a new stake in Time Warner during the first quarter valued at approximately $13,480,000. Bank of Nova Scotia increased its stake in Time Warner by 29.5% in the first quarter. Bank of Nova Scotia now owns 1,227,961 shares of the media conglomerate’s stock valued at $119,985,000 after buying an additional 280,039 shares during the last quarter. Financial Advisors Network Inc. increased its stake in Time Warner by 37.9% in the first quarter. Financial Advisors Network Inc. now owns 3,417 shares of the media conglomerate’s stock valued at $337,000 after buying an additional 940 shares during the last quarter. Kimelman & Baird LLC increased its stake in Time Warner by 6.6% in the first quarter. Kimelman & Baird LLC now owns 2,666 shares of the media conglomerate’s stock valued at $260,000 after buying an additional 166 shares during the last quarter. Finally, Summit Global Investments bought a new stake in Time Warner during the first quarter valued at approximately $269,000. 80.02% of the stock is currently owned by institutional investors and hedge funds.
Time Warner Inc. (TWX) traded down 0.05% during midday trading on Tuesday, reaching $102.38. 876,479 shares of the company’s stock were exchanged. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The stock’s 50 day moving average is $100.19 and its 200 day moving average is $98.55. The firm has a market capitalization of $79.55 billion, a P/E ratio of 18.98 and a beta of 1.05.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.14. The firm had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. Time Warner’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.29 earnings per share. On average, analysts expect that Time Warner Inc. will post $6.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders 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 dividend on an annualized basis and a yield of 1.57%. Time Warner’s dividend payout ratio (DPR) is 29.98%.
Several research firms have recently commented on TWX. Zacks Investment Research downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a research note on Monday. Evercore ISI downgraded shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price objective for the company. in a research note on Monday. Barclays PLC downgraded shares of Time Warner from an “overweight” rating to a “hold” rating and set a $107.00 price objective for the company. in a research note on Friday. Cowen and Company reiterated a “hold” rating and set a $107.50 price objective on shares of Time Warner in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $102.25.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of Time Warner stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $99.67 per share, with a total value of $25,415.85. Following the completion of the transaction, the chief financial officer now directly owns 63,399 shares in the company, valued at approximately $6,318,978.33. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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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