Randolph Co Inc Maintains Stake in Time Warner Inc. (TWX)
Randolph Co Inc maintained its position in Time Warner Inc. (NYSE:TWX) during the second quarter, Holdings Channel reports. The institutional investor owned 323,289 shares of the media conglomerate’s stock at the end of the second quarter. Time Warner comprises about 6.2% of Randolph Co Inc’s holdings, making the stock its largest position. Randolph Co Inc’s holdings in Time Warner were worth $32,461,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. First Bank & Trust boosted its position in Time Warner by 0.3% in the first quarter. First Bank & Trust now owns 3,396 shares of the media conglomerate’s stock valued at $332,000 after buying an additional 9 shares during the period. Stillwater Investment Management LLC boosted its position in Time Warner by 0.4% in the second quarter. Stillwater Investment Management LLC now owns 2,388 shares of the media conglomerate’s stock valued at $240,000 after buying an additional 9 shares during the period. Park National Corp OH boosted its position in Time Warner by 0.6% in the second quarter. Park National Corp OH now owns 2,467 shares of the media conglomerate’s stock valued at $248,000 after buying an additional 14 shares during the period. Conservest Capital Advisors Inc. boosted its position in Time Warner by 0.4% in the second quarter. Conservest Capital Advisors Inc. now owns 7,857 shares of the media conglomerate’s stock valued at $789,000 after buying an additional 31 shares during the period. Finally, Connecticut Wealth Management LLC boosted its position in Time Warner by 0.8% in the first quarter. Connecticut Wealth Management LLC now owns 4,199 shares of the media conglomerate’s stock valued at $413,000 after buying an additional 33 shares during the period. Institutional investors own 78.76% of the company’s stock.
Shares of Time Warner Inc. (NYSE:TWX) traded down 0.01% on Friday, reaching $101.60. The company had a trading volume of 1,350,021 shares. The firm has a market cap of $79.02 billion, a P/E ratio of 18.85 and a beta of 1.05. The company has a 50-day moving average price of $101.12 and a 200-day moving average price of $99.02. Time Warner Inc. has a one year low of $74.27 and a one year high of $103.34.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. The company had revenue of $7.33 billion during the quarter, compared to the consensus estimate of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 earnings per share. On average, analysts expect that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were given a dividend of $0.4025 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.58%. Time Warner’s payout ratio is currently 29.98%.
TWX has been the topic of several research reports. BidaskClub lowered Time Warner from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 13th. Barclays PLC lowered Time Warner from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $95.00 to $107.00 in a research report on Friday, August 4th. Royal Bank Of Canada reissued a “hold” rating and set a $108.00 price target on shares of Time Warner in a research report on Friday, July 14th. MKM Partners reissued a “neutral” rating and set a $107.50 price target (up from $90.00) on shares of Time Warner in a research report on Monday, May 1st. Finally, Evercore ISI lowered Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 price target on the stock. in a research report on Monday, August 7th. One equities research 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 issued a strong buy rating to the company’s stock. Time Warner presently has an average rating of “Hold” and an average target price of $102.25.
In other news, CFO Howard M. Averill bought 255 shares of the company’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $99.67 per share, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at 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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