Jasper Ridge Partners L.P. continued to hold its position in Time Warner Inc. (NYSE:TWX) during the first quarter, according to its most recent filing with the SEC. The firm owned 796,020 shares of the media conglomerate’s stock at the end of the first quarter. Time Warner makes up about 5.4% of Jasper Ridge Partners L.P.’s holdings, making the stock its 8th largest position. Jasper Ridge Partners L.P. owned about 0.10% of Time Warner worth $77,779,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC increased its position in Time Warner by 0.5% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 8,796 shares of the media conglomerate’s stock valued at $849,000 after buying an additional 46 shares during the last quarter. Fred Alger Management Inc. increased its position in Time Warner by 168.6% in the fourth quarter. Fred Alger Management Inc. now owns 959,461 shares of the media conglomerate’s stock valued at $92,617,000 after buying an additional 602,235 shares during the last quarter. Public Sector Pension Investment Board increased its position in Time Warner by 55.0% in the fourth quarter. Public Sector Pension Investment Board now owns 270,440 shares of the media conglomerate’s stock valued at $26,106,000 after buying an additional 96,000 shares during the last quarter. Intact Investment Management Inc. acquired a new position in Time Warner during the fourth quarter valued at about $609,000. Finally, Gratus Capital LLC boosted its stake in Time Warner by 1.5% in the fourth quarter. Gratus Capital LLC now owns 6,572 shares of the media conglomerate’s stock valued at $634,000 after buying an additional 98 shares during the period. 79.87% of the stock is owned by hedge funds and other institutional investors.
Time Warner Inc. (TWX) traded down 0.46% on Friday, hitting $102.73. 3,366,346 shares of the company were exchanged. The company has a 50 day moving average price of $100.03 and a 200-day moving average price of $98.35. The stock has a market capitalization of $79.67 billion, a P/E ratio of 19.60 and a beta of 1.05. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34.
Time Warner (NYSE:TWX) last posted its earnings results on Wednesday, May 3rd. The media conglomerate reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.22. The business had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.66 billion. Time Warner had a net margin of 13.90% and a return on equity of 19.45%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 EPS. On average, equities analysts expect that Time Warner Inc. will post $6.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be paid a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, July 6th. Time Warner’s dividend payout ratio is currently 30.78%.
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Several research firms have recently weighed in on TWX. BMO Capital Markets reiterated a “hold” rating and set a $108.00 price objective on shares of Time Warner in a research report on Monday, April 17th. MKM Partners reiterated a “neutral” rating and set a $107.50 price objective (up from $90.00) on shares of Time Warner in a research report on Monday, May 1st. Royal Bank Of Canada set a $108.00 price objective on shares of Time Warner and gave the stock a “hold” rating in a research report on Monday, June 12th. Rosenblatt Securities reiterated a “neutral” rating and set a $105.00 price objective on shares of Time Warner in a research report on Wednesday, May 3rd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $100.95.
In related news, CFO Howard M. Averill bought 255 shares of the stock in a transaction on Thursday, June 15th. The shares were acquired at an average price of $99.67 per share, for a total transaction of $25,415.85. Following the purchase, the chief financial officer now owns 63,399 shares of the company’s stock, valued at $6,318,978.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.16% of the stock is currently owned by corporate insiders.
About Time Warner
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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