Time Warner Inc (TWX) Holdings Lowered by California Public Employees Retirement System
California Public Employees Retirement System trimmed its stake in shares of Time Warner Inc (NYSE:TWX) by 2.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,016,074 shares of the media conglomerate’s stock after selling 59,579 shares during the period. California Public Employees Retirement System’s holdings in Time Warner were worth $184,410,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in TWX. Cowen Inc. raised its position in shares of Time Warner by 833.4% during the 3rd quarter. Cowen Inc. now owns 2,576,195 shares of the media conglomerate’s stock worth $263,933,000 after buying an additional 2,300,205 shares in the last quarter. Empyrean Capital Partners LP raised its position in shares of Time Warner by 93.1% during the 2nd quarter. Empyrean Capital Partners LP now owns 4,257,932 shares of the media conglomerate’s stock worth $427,539,000 after buying an additional 2,052,932 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Time Warner by 49.2% during the 3rd quarter. Janus Henderson Group PLC now owns 3,240,057 shares of the media conglomerate’s stock worth $331,940,000 after buying an additional 1,068,229 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Time Warner during the 3rd quarter worth about $82,459,000. Finally, CNH Partners LLC raised its position in shares of Time Warner by 50.1% during the 2nd quarter. CNH Partners LLC now owns 2,035,648 shares of the media conglomerate’s stock worth $204,399,000 after buying an additional 679,703 shares in the last quarter. Institutional investors own 77.55% of the company’s stock.
TWX has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Time Warner from a “hold” rating to a “sell” rating in a report on Friday, January 12th. Rosenblatt Securities upgraded shares of Time Warner from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Monday, November 13th. Guggenheim reiterated a “buy” rating on shares of Time Warner in a report on Thursday, January 4th. Deutsche Bank reiterated a “buy” rating and issued a $99.00 target price on shares of Time Warner in a report on Friday, November 10th. Finally, Cowen reiterated a “hold” rating and issued a $102.00 target price on shares of Time Warner in a report on Friday, October 27th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $104.36.
Time Warner (NYSE:TWX) last released its earnings results on Thursday, February 1st. The media conglomerate reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.16. The business had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.41 billion. Time Warner had a net margin of 16.78% and a return on equity of 18.96%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. research analysts predict that Time Warner Inc will post 7.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Tuesday, January 9th. Time Warner’s dividend payout ratio (DPR) is currently 29.65%.
In other news, Director William P. Barr sold 4,019 shares of Time Warner stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $97.20, for a total value of $390,646.80. Following the transaction, the director now directly owns 44,959 shares of the company’s stock, valued at $4,370,014.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Olaf Olafsson sold 23,450 shares of Time Warner stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 356,947 shares of company stock worth $32,369,031. 0.16% of the stock is currently owned by insiders.
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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