Shell Asset Management Co. Boosts Stake in Time Warner Inc. (TWX)
Shell Asset Management Co. lifted its position in shares of Time Warner Inc. (NYSE:TWX) by 58.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 162,588 shares of the media conglomerate’s stock after acquiring an additional 59,726 shares during the quarter. Shell Asset Management Co.’s holdings in Time Warner were worth $12,228,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. IHT Wealth Management LLC boosted its stake in Time Warner by 98.0% in the 2nd quarter. IHT Wealth Management LLC now owns 808 shares of the media conglomerate’s stock worth $335,000 after purchasing an additional 400 shares during the period. Jacobi Capital Management LLC boosted its stake in Time Warner by 2.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after purchasing an additional 20 shares during the period. Bellwether Investment Group LLC boosted its stake in Time Warner by 15.6% in the 1st quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after purchasing an additional 146 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in Time Warner by 4.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,153 shares of the media conglomerate’s stock worth $116,000 after purchasing an additional 44 shares during the period. Finally, Harfst & Associates Inc. boosted its stake in Time Warner by 31.6% in the 2nd quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock worth $120,000 after purchasing an additional 288 shares during the period. Institutional investors own 79.16% of the company’s stock.
Shares of Time Warner Inc. (NYSE:TWX) traded down 0.36% during trading on Friday, reaching $101.83. The company’s stock had a trading volume of 5,503,223 shares. The company has a 50 day moving average of $102.09 and a 200-day moving average of $100.49. Time Warner Inc. has a 12-month low of $85.22 and a 12-month high of $103.90. The stock has a market cap of $79.20 billion, a price-to-earnings ratio of 18.89 and a beta of 1.02.
Time Warner (NYSE:TWX) last posted its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.14. The business had revenue of $7.33 billion during 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 revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the company earned $1.29 EPS. Analysts forecast that Time Warner Inc. will post $6.10 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be paid a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, October 6th. Time Warner’s payout ratio is 29.98%.
Several research analysts have commented on TWX shares. BidaskClub upgraded Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Time Warner from a “hold” rating to a “buy” rating and set a $113.00 target price for the company in a research note on Thursday, July 13th. Barclays PLC downgraded Time Warner from an “overweight” rating to an “equal weight” rating and raised their target price for the stock from $95.00 to $107.00 in a research note on Friday, August 4th. Jefferies Group LLC restated a “hold” rating and issued a $105.00 target price (up previously from $102.42) on shares of Time Warner in a research note on Sunday, July 30th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $108.00 target price on shares of Time Warner in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $102.91.
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Time Warner 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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