Catawba Capital Management VA Has $1.13 Million Stake in Time Warner Inc. (TWX)
Catawba Capital Management VA boosted its position in Time Warner Inc. (NYSE:TWX) by 5.9% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 11,220 shares of the media conglomerate’s stock after buying an additional 626 shares during the period. Catawba Capital Management VA’s holdings in Time Warner were worth $1,127,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of Time Warner by 38.5% in the fourth quarter. Macquarie Group Ltd. now owns 194,948 shares of the media conglomerate’s stock worth $18,818,000 after buying an additional 54,179 shares during the last quarter. Carroll Financial Associates Inc. boosted its stake in shares of Time Warner by 2.7% in the first quarter. Carroll Financial Associates Inc. now owns 1,249 shares of the media conglomerate’s stock worth $122,000 after buying an additional 33 shares during the last quarter. Laurel Grove Capital LLC boosted its stake in shares of Time Warner by 8.1% in the first quarter. Laurel Grove Capital LLC now owns 39,550 shares of the media conglomerate’s stock worth $3,864,000 after buying an additional 2,950 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Time Warner by 75.9% in the first quarter. Bank of Montreal Can now owns 2,611,753 shares of the media conglomerate’s stock worth $255,195,000 after buying an additional 1,126,854 shares during the last quarter. Finally, TNB Financial purchased a new stake in shares of Time Warner during the first quarter worth $446,000. Institutional investors and hedge funds own 80.02% of the company’s stock.
Shares of Time Warner Inc. (NYSE TWX) traded down 0.04% on Friday, reaching $101.90. 770,818 shares of the company traded hands. The company has a market capitalization of $79.26 billion, a P/E ratio of 18.91 and a beta of 1.05. Time Warner Inc. has a one year low of $74.27 and a one year high of $103.34. The firm’s 50 day moving average is $100.79 and its 200 day moving average is $98.82.
Time Warner (NYSE:TWX) last released 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. The company had revenue of $7.33 billion for the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.29 earnings per share. Analysts expect that Time Warner Inc. will post $6.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, July 6th. Time Warner’s dividend payout ratio is currently 29.98%.
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A number of analysts have recently weighed in on TWX shares. BMO Capital Markets restated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research note on Monday, April 17th. Pivotal Research cut shares of Time Warner from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $100.00 to $107.50 in a research note on Thursday, April 20th. MKM Partners restated a “neutral” rating and issued a $107.50 price objective (up from $90.00) on shares of Time Warner in a research note on Monday, May 1st. Rosenblatt Securities restated a “neutral” rating and issued a $105.00 price objective on shares of Time Warner in a research note on Wednesday, May 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $105.00 target price on shares of Time Warner in a research note on Monday, May 22nd. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Time Warner presently has a consensus rating of “Hold” and a consensus target price of $102.25.
In related news, CFO Howard M. Averill acquired 255 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, with a total value of $25,415.85. Following the completion of the purchase, the chief financial officer now directly owns 63,399 shares in the company, valued at $6,318,978.33. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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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