Park National Corp OH Raises Position in Time Warner Inc. (TWX)
Park National Corp OH boosted its position in shares of Time Warner Inc. (NYSE:TWX) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 2,467 shares of the media conglomerate’s stock after buying an additional 14 shares during the period. Park National Corp OH’s holdings in Time Warner were worth $248,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Assetmark Inc. raised its position in shares of Time Warner by 10.0% in the first quarter. Assetmark Inc. now owns 2,628 shares of the media conglomerate’s stock worth $257,000 after buying an additional 239 shares in the last quarter. Stevens First Principles Investment Advisors raised its position in shares of Time Warner by 52.9% in the first quarter. Stevens First Principles Investment Advisors now owns 2,127 shares of the media conglomerate’s stock worth $208,000 after buying an additional 736 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Time Warner by 18.3% in the first quarter. Lazard Asset Management LLC now owns 292,795 shares of the media conglomerate’s stock worth $28,608,000 after buying an additional 45,243 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Time Warner by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 379,820 shares of the media conglomerate’s stock worth $37,113,000 after buying an additional 28,153 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its position in shares of Time Warner by 2.4% in the first quarter. Stratos Wealth Partners LTD. now owns 4,746 shares of the media conglomerate’s stock worth $464,000 after buying an additional 110 shares in the last quarter. 80.02% of the stock is currently owned by institutional investors and hedge funds.
Time Warner Inc. (NYSE:TWX) traded down 0.21% during midday trading on Thursday, hitting $102.07. The company had a trading volume of 791,462 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 $79.39 billion, a PE ratio of 18.94 and a beta of 1.05. The stock’s 50-day moving average price is $100.71 and its 200-day moving average price is $98.80.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The business had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 EPS. On average, equities research analysts expect that Time Warner Inc. will post $6.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, July 6th. Time Warner’s dividend payout ratio (DPR) is 29.98%.
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A number of research analysts have recently weighed in on TWX shares. Morgan Stanley reissued an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Pivotal Research lowered Time Warner from a “buy” rating to a “hold” rating and increased their price objective for the company from $100.00 to $107.50 in a report on Thursday, April 20th. BMO Capital Markets reissued a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a report on Friday, May 19th. Rosenblatt Securities reissued a “neutral” rating and issued a $105.00 price objective on shares of Time Warner in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $105.00 price objective (up from $102.42) on shares of Time Warner in a report on Sunday, July 30th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $102.25.
In other news, CFO Howard M. Averill purchased 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were acquired at an average price of $99.67 per share, with a total value of $25,415.85. Following the purchase, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by insiders.
About Time Warner
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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