Time Warner Inc. (TWX) Shares Bought by CIBC World Markets Inc.
CIBC World Markets Inc. raised its position in Time Warner Inc. (NYSE:TWX) by 23.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,410 shares of the media conglomerate’s stock after buying an additional 5,489 shares during the period. CIBC World Markets Inc.’s holdings in Time Warner were worth $2,262,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of TWX. Bank of New York Mellon Corp increased its position in Time Warner by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 12,324,835 shares of the media conglomerate’s stock worth $906,367,000 after buying an additional 193,231 shares during the last quarter. Private Wealth Partners LLC increased its position in Time Warner by 3.3% in the second quarter. Private Wealth Partners LLC now owns 179,300 shares of the media conglomerate’s stock worth $13,186,000 after buying an additional 5,760 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in Time Warner during the second quarter worth about $174,269,000. Shell Asset Management Co. increased its position in Time Warner by 11.6% in the second quarter. Shell Asset Management Co. now owns 149,788 shares of the media conglomerate’s stock worth $11,015,000 after buying an additional 15,539 shares during the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Time Warner during the second quarter worth about $22,793,000. 80.32% of the stock is currently owned by institutional investors.
Shares of Time Warner Inc. (NYSE:TWX) traded up 0.01% during trading on Tuesday, reaching $92.91. 2,977,401 shares of the company traded hands. The company has a market capitalization of $71.65 billion, a price-to-earnings ratio of 16.53 and a beta of 1.08. Time Warner Inc. has a 1-year low of $55.53 and a 1-year high of $94.44. The stock’s 50 day moving average is $86.51 and its 200 day moving average is $79.10.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, November 2nd. The media conglomerate reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.46. The company earned $7.20 billion during the quarter, compared to the consensus estimate of $6.92 billion. Time Warner had a return on equity of 18.95% and a net margin of 15.75%. Time Warner’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.25 EPS. On average, analysts forecast that Time Warner Inc. will post $5.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.4025 dividend. This represents a $1.61 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Monday, November 28th. Time Warner’s payout ratio is presently 28.60%.
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TWX has been the topic of a number of research reports. FBR & Co raised shares of Time Warner from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $97.00 to $104.00 in a report on Monday, October 31st. Bank of America Corp. reaffirmed a “neutral” rating and set a $84.00 price target (up previously from $79.00) on shares of Time Warner in a report on Sunday, October 23rd. downgraded shares of Time Warner from an “outperform” rating to an “underperform” rating in a report on Wednesday, November 2nd. Moffett Nathanson raised shares of Time Warner from a “neutral” rating to a “buy” rating in a report on Thursday, November 17th. Finally, Albert Fried & Company reaffirmed an “outperform” rating and set a $90.00 price target on shares of Time Warner in a report on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Time Warner has a consensus rating of “Buy” and a consensus price target of $95.04.
In other news, EVP Paul T. Cappuccio sold 56,595 shares of Time Warner stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $78.24, for a total value of $4,427,992.80. Following the completion of the transaction, the executive vice president now owns 157,877 shares in the company, valued at approximately $12,352,296.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is owned by 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 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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