19,737 Shares in News Corporation $NWSA Purchased by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC purchased a new position in shares of News Corporation (NASDAQ:NWSA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,737 shares of the company’s stock, valued at approximately $565,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Independent Franchise Partners LLP grew its stake in shares of News by 4.0% in the fourth quarter. Independent Franchise Partners LLP now owns 29,934,048 shares of the company’s stock valued at $781,877,000 after buying an additional 1,137,691 shares in the last quarter. Metropolis Capital Ltd raised its holdings in shares of News by 26.4% in the 1st quarter. Metropolis Capital Ltd now owns 8,835,157 shares of the company’s stock valued at $220,260,000 after buying an additional 1,843,900 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of News by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,245,597 shares of the company’s stock valued at $105,842,000 after buying an additional 94,368 shares during the period. Bank of America Corp DE lifted its stake in News by 80.9% during the 1st quarter. Bank of America Corp DE now owns 4,069,041 shares of the company’s stock worth $101,441,000 after acquiring an additional 1,819,652 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in News by 120.6% during the 1st quarter. Sei Investments Co. now owns 2,326,616 shares of the company’s stock worth $58,002,000 after acquiring an additional 1,272,083 shares in the last quarter. 66.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NWSA. Morgan Stanley restated an “overweight” rating and set a $35.00 target price on shares of News in a report on Thursday, August 6th. Zacks Research lowered shares of News from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 7th. Wall Street Zen raised shares of News from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of News from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Finally, Weiss Ratings upgraded shares of News from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

News Price Performance

NWSA stock opened at $30.22 on Friday. The business has a 50 day moving average price of $29.57 and a 200 day moving average price of $27.50. The company has a quick ratio of 1.51, a current ratio of 1.62 and a debt-to-equity ratio of 0.22. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 29.34 and a beta of 0.97. News Corporation has a fifty-two week low of $22.20 and a fifty-two week high of $31.66.

News (NASDAQ:NWSA) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.14. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.25 billion. News had a net margin of 6.35% and a return on equity of 7.09%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. Equities research analysts anticipate that News Corporation will post 1.31 earnings per share for the current fiscal year.

News Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, October 7th. Investors of record on Wednesday, September 9th were given a $0.10 dividend. This represents a dividend yield of 68.0%. The ex-dividend date of this dividend was Wednesday, September 9th. News’s dividend payout ratio (DPR) is 19.42%.

News Profile

News Corp (NASDAQ: NWSA) is a global media and information-services company that creates and distributes news, business information, books, digital content and real estate services. Its operations serve consumers, professionals, institutions and businesses across the United States, the United Kingdom, Australia and other international markets.

The company’s Dow Jones division provides business and financial news, data and information through publications and platforms including The Wall Street Journal, Barron’s, MarketWatch, Factiva and Dow Jones Newswires.