Sumitomo Mitsui Trust Holdings Inc. Sells 82,819 Shares of Time Warner Inc. (TWX)
Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Time Warner Inc. (NYSE:TWX) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,479,553 shares of the media conglomerate’s stock after selling 82,819 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.32% of Time Warner worth $182,346,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its stake in shares of Time Warner by 50.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,807,086 shares of the media conglomerate’s stock valued at $131,104,000 after buying an additional 603,700 shares during the period. Bank of Montreal Can acquired a new stake in Time Warner during the second quarter valued at $41,813,000. BB&T Securities LLC boosted its stake in Time Warner by 514.5% in the first quarter. BB&T Securities LLC now owns 478,589 shares of the media conglomerate’s stock valued at $34,721,000 after buying an additional 400,711 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Time Warner during the second quarter valued at $22,793,000. Finally, Goldentree Asset Management LP boosted its stake in Time Warner by 74.3% in the first quarter. Goldentree Asset Management LP now owns 501,807 shares of the media conglomerate’s stock valued at $36,406,000 after buying an additional 213,850 shares during the last quarter. Institutional investors and hedge funds own 80.68% of the company’s stock.
Shares of Time Warner Inc. (NYSE:TWX) traded up 0.85% during midday trading on Tuesday, hitting $79.51. 2,581,424 shares of the stock traded hands. The firm has a market capitalization of $61.85 billion, a PE ratio of 15.82 and a beta of 1.21. Time Warner Inc. has a 52 week low of $55.53 and a 52 week high of $81.33. The company’s 50-day moving average is $78.07 and its 200 day moving average is $76.30.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 3rd. The media conglomerate reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.13. Time Warner had a net margin of 14.54% and a return on equity of 17.33%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. Time Warner’s quarterly revenue was down 5.4% on a year-over-year basis. Analysts anticipate that Time Warner Inc. will post $5.42 earnings per share for the current year.
TWX has been the subject of several recent analyst reports. Brean Capital restated a “buy” rating on shares of Time Warner in a research note on Tuesday, July 26th. Albert Fried & Company restated a “buy” rating and set a $90.00 target price on shares of Time Warner in a research note on Wednesday, August 3rd. Vetr cut Time Warner from a “strong-buy” rating to a “buy” rating and set a $84.06 target price for the company. in a research note on Thursday, July 7th. Moffett Nathanson restated a “buy” rating and set a $87.00 target price on shares of Time Warner in a research note on Thursday, July 7th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Time Warner in a research note on Wednesday, July 6th. Eleven equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $86.11.
In other Time Warner news, insider Karen Magee sold 14,240 shares of the company’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $79.97, for a total value of $1,138,772.80. Following the sale, the insider now owns 7,461 shares in the company, valued at $596,656.17. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Paul T. Cappuccio sold 56,595 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $78.24, for a total transaction of $4,427,992.80. Following the completion of the sale, the executive vice president now owns 157,877 shares in the company, valued at approximately $12,352,296.48. The disclosure for this sale can be found here. Corporate insiders own 0.16% of the company’s stock.
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 domestic premium pay television and streaming services, and international premium pay, basic tier television services and streaming services, and Warner Bros., which consists of television, feature film, home video and videogame production and distribution.
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