First National Trust Co. cut its stake in Time Warner Inc. (NYSE:TWX) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,959 shares of the media conglomerate’s stock after selling 2,979 shares during the period. First National Trust Co.’s holdings in Time Warner were worth $2,249,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Time Warner by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock worth $5,004,741,000 after purchasing an additional 1,116,818 shares in the last quarter. BlackRock Inc. boosted its stake in Time Warner by 4.0% in the 2nd quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock worth $4,470,656,000 after purchasing an additional 1,696,681 shares in the last quarter. State Street Corp boosted its stake in Time Warner by 2.1% in the 1st quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after purchasing an additional 688,860 shares in the last quarter. Franklin Resources Inc. boosted its stake in Time Warner by 0.4% in the 2nd quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock worth $1,239,484,000 after purchasing an additional 51,596 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Time Warner by 8.3% in the 1st quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock worth $710,380,000 after purchasing an additional 556,674 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.
TWX has been the subject of several research reports. Zacks Investment Research cut shares of Time Warner from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Credit Suisse Group cut shares of Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price objective for the company. in a research note on Monday, September 18th. Cowen and Company restated a “hold” rating and set a $102.00 price objective on shares of Time Warner in a research note on Friday, October 27th. Sanford C. Bernstein restated a “market perform” rating on shares of Time Warner in a research note on Tuesday, September 12th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $105.00 target price on shares of Time Warner in a report on Sunday, September 10th. Twenty-three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $103.93.
Time Warner Inc. (NYSE:TWX) traded up $3.55 during mid-day trading on Monday, hitting $90.60. The stock had a trading volume of 26,863,600 shares, compared to its average volume of 4,485,041. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.48 and a quick ratio of 1.26. Time Warner Inc. has a 1-year low of $85.77 and a 1-year high of $103.90. The firm has a market capitalization of $68,910.00, a P/E ratio of 14.95, a P/E/G ratio of 1.43 and a beta of 0.98.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.23. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. The firm had revenue of $7.60 billion during the quarter, compared to the consensus estimate of $7.40 billion. During the same period last year, the company earned $1.83 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. equities research analysts expect that Time Warner Inc. will post 6.2 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Friday, October 6th. Time Warner’s dividend payout ratio (DPR) is currently 30.61%.
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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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