Piedmont Investment Advisors LLC Cuts Holdings in Time Warner Inc (TWX)

Piedmont Investment Advisors LLC reduced its stake in shares of Time Warner Inc (NYSE:TWX) by 15.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,612 shares of the media conglomerate’s stock after selling 35,349 shares during the period. Piedmont Investment Advisors LLC’s holdings in Time Warner were worth $19,631,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Jacobi Capital Management LLC increased its holdings in Time Warner by 2.1% in the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock valued at $100,000 after buying an additional 20 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new position in shares of Time Warner during the 3rd quarter valued at $102,000. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Time Warner by 4.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,153 shares of the media conglomerate’s stock valued at $116,000 after acquiring an additional 44 shares in the last quarter. Zions Bancorporation lifted its holdings in shares of Time Warner by 698.6% during the 3rd quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock valued at $117,000 after acquiring an additional 999 shares in the last quarter. Finally, Harfst & Associates Inc. lifted its holdings in shares of Time Warner by 31.6% during the 2nd quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock valued at $120,000 after acquiring an additional 288 shares in the last quarter. Institutional investors and hedge funds own 78.11% of the company’s stock.

In other news, CEO Jeffrey L. Bewkes sold 329,478 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $90.65, for a total value of $29,867,180.70. Following the transaction, the chief executive officer now owns 855,925 shares of the company’s stock, valued at approximately $77,589,601.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by company insiders.

A number of brokerages have recently weighed in on TWX. Royal Bank of Canada reaffirmed a “hold” rating and issued a $102.00 price target on shares of Time Warner in a research note on Friday, October 27th. B. Riley restated a “hold” rating and issued a $101.00 price objective on shares of Time Warner in a research report on Tuesday, November 21st. BMO Capital Markets restated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research report on Wednesday, September 13th. KeyCorp restated a “hold” rating on shares of Time Warner in a research report on Tuesday, October 17th. Finally, upgraded shares of Time Warner from a “hold” rating to a “buy” rating and raised their price objective for the company from $102.00 to $103.00 in a research report on Wednesday, November 15th. Twenty-three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Time Warner has an average rating of “Hold” and an average target price of $103.00.

Shares of Time Warner Inc (NYSE:TWX) traded up $0.11 during midday trading on Tuesday, hitting $90.82. 2,954,800 shares of the stock traded hands, compared to its average volume of 4,750,034. The company has a market cap of $70,626.17, a price-to-earnings ratio of 14.97, a PEG ratio of 1.43 and a beta of 0.95. 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 one year low of $85.88 and a one year high of $103.90.

Time Warner (NYSE:TWX) last issued its earnings results on Thursday, October 26th. The media conglomerate reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.23. The company had revenue of $7.60 billion for 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%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. equities research analysts expect that Time Warner Inc will post 6.2 EPS for the current year.

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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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Institutional Ownership by Quarter for Time Warner (NYSE:TWX)

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