Stock Yards Bank & Trust Co. Takes Position in Time Warner Inc. (TWX)
Stock Yards Bank & Trust Co. purchased a new position in shares of Time Warner Inc. (NYSE:TWX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,233 shares of the media conglomerate’s stock, valued at approximately $224,000.
Other hedge funds have also recently made changes to their positions in the company. Bellwether Investment Group LLC raised its stake in shares of Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after buying an additional 146 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock worth $109,000 after buying an additional 100 shares during the last quarter. Carroll Financial Associates Inc. raised 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. Advisory Services Network LLC purchased a new stake in shares of Time Warner during the first quarter worth approximately $138,000. Finally, Archford Capital Strategies LLC raised its stake in shares of Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock worth $155,000 after buying an additional 481 shares during the last quarter. 80.02% of the stock is currently owned by hedge funds and other institutional investors.
Time Warner Inc. (NYSE:TWX) traded down 0.04% during midday trading on Friday, hitting $101.90. The stock had a trading volume of 2,326,218 shares. The firm’s 50-day moving average price is $100.86 and its 200 day moving average price is $98.86. The company has a market cap of $79.26 billion, a P/E ratio of 18.91 and a beta of 1.05. Time Warner Inc. has a 12 month low of $74.27 and a 12 month high of $103.34.
Time Warner (NYSE:TWX) last issued its quarterly earnings data 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. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The company had revenue of $7.33 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the company posted $1.29 earnings per share. Time Warner’s revenue was up 5.4% compared to the same quarter last year. On average, analysts expect that Time Warner Inc. will post $6.09 earnings per share 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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A number of analysts have recently commented on TWX shares. Jefferies Group LLC reissued a “buy” rating and set a $105.00 price target on shares of Time Warner in a research note on Monday, May 22nd. BidaskClub raised Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised Time Warner from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research note on Thursday, July 13th. Barclays PLC lowered Time Warner from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $95.00 to $107.00 in a research note on Friday, August 4th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $108.00 price target on shares of Time Warner in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price 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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