Bremer Trust National Association Decreases Position in Time Warner Inc. (NYSE:TWX)
Bremer Trust National Association lowered its stake in shares of Time Warner Inc. (NYSE:TWX) by 45.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,220 shares of the media conglomerate’s stock after selling 2,682 shares during the period. Bremer Trust National Association’s holdings in Time Warner were worth $324,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake 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 increased its stake 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 increased its stake 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 increased its stake 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. increased its stake 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. 80.02% of the stock is owned by institutional investors and hedge funds.
Shares of Time Warner Inc. (TWX) traded down 0.04% during trading on Friday, hitting $101.90. The stock had a trading volume of 770,818 shares. The firm has a 50 day moving average price of $100.79 and a 200-day moving average price of $98.82. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The stock has a market capitalization of $79.26 billion, a price-to-earnings ratio of 18.91 and a beta of 1.05.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the business earned $1.29 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that Time Warner Inc. will post $6.09 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, July 6th. Time Warner’s payout ratio is currently 29.98%.
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TWX has been the subject of several research reports. MKM Partners reaffirmed a “neutral” rating and set a $107.50 price target (up previously from $90.00) on shares of Time Warner in a report on Monday, May 1st. BMO Capital Markets reissued a “hold” rating and set a $108.00 target price on shares of Time Warner in a report on Monday, April 17th. Rosenblatt Securities reissued a “neutral” rating and set a $105.00 target price on shares of Time Warner in a report on Wednesday, May 3rd. Morgan Stanley reissued an “overweight” rating on shares of Time Warner in a report on Thursday, July 6th. Finally, Pivotal Research downgraded Time Warner from a “buy” rating to a “hold” rating and lifted their target price for the stock from $100.00 to $107.50 in a report on Thursday, April 20th. One 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 issued a strong buy rating to the company’s stock. Time Warner presently has an average rating of “Hold” and an average price target of $102.25.
In other news, CFO Howard M. Averill acquired 255 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was bought at an average price of $99.67 per share, with a total value of $25,415.85. Following the completion of the acquisition, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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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