Bank of New York Mellon Corp Sells 114,872 Shares of Time Warner Inc. (TWX)
Bank of New York Mellon Corp trimmed its holdings in shares of Time Warner Inc. (NYSE:TWX) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,892,268 shares of the media conglomerate’s stock after selling 114,872 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.01% of Time Warner worth $808,563,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in TWX. DekaBank Deutsche Girozentrale lifted its holdings in Time Warner by 0.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 956,151 shares of the media conglomerate’s stock valued at $97,754,000 after purchasing an additional 3,885 shares in the last quarter. NTV Asset Management LLC purchased a new position in Time Warner during the third quarter valued at approximately $202,000. Rhumbline Advisers lifted its holdings in Time Warner by 1.6% during the third quarter. Rhumbline Advisers now owns 1,364,016 shares of the media conglomerate’s stock valued at $139,743,000 after purchasing an additional 21,211 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Time Warner by 26.7% during the third quarter. Toronto Dominion Bank now owns 1,667,502 shares of the media conglomerate’s stock valued at $170,814,000 after purchasing an additional 351,307 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in Time Warner by 1.8% during the third quarter. New York State Common Retirement Fund now owns 2,043,800 shares of the media conglomerate’s stock valued at $209,387,000 after purchasing an additional 35,700 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.
Shares of Time Warner Inc. (NYSE TWX) traded down $2.11 during trading on Tuesday, hitting $88.49. 12,820,500 shares of the company traded hands, compared to its average volume of 4,523,078. The stock has a market cap of $68,900.00, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.43 and a beta of 0.98. The company has a quick ratio of 1.26, a current ratio of 1.48 and a debt-to-equity ratio of 0.80. Time Warner Inc. has a 52-week low of $86.38 and a 52-week high of $103.90.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Thursday, October 26th. The media conglomerate reported $1.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.23. The firm had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.40 billion. Time Warner had a net margin of 13.59% and a return on equity of 18.57%. Time Warner’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $1.83 EPS. analysts anticipate that Time Warner Inc. will post 6.2 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.82%. The ex-dividend date was Friday, October 6th. Time Warner’s payout ratio is currently 30.61%.
TWX has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Time Warner from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Credit Suisse Group downgraded shares of Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price target on the stock. in a report on Monday, September 18th. Cowen and Company reaffirmed a “hold” rating and set a $102.00 price target on shares of Time Warner in a report on Friday, October 27th. Sanford C. Bernstein reissued a “market perform” rating on shares of Time Warner in a report on Tuesday, September 12th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $105.00 target price on shares of Time Warner in a report on Sunday, September 10th. Twenty-two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Time Warner has a consensus rating of “Hold” and an average target price of $103.71.
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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