Time Warner Inc. (TWX) Position Reduced by Meeder Asset Management Inc.
Meeder Asset Management Inc. lowered its stake in shares of Time Warner Inc. (NYSE:TWX) by 43.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,650 shares of the media conglomerate’s stock after selling 28,387 shares during the period. Meeder Asset Management Inc.’s holdings in Time Warner were worth $3,681,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. National Pension Service increased its position in Time Warner by 9.8% in the second quarter. National Pension Service now owns 627,230 shares of the media conglomerate’s stock valued at $62,585,000 after buying an additional 56,110 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Time Warner during the second quarter valued at about $539,000. State of Alaska Department of Revenue increased its position in Time Warner by 7.3% in the second quarter. State of Alaska Department of Revenue now owns 120,714 shares of the media conglomerate’s stock valued at $12,120,000 after buying an additional 8,183 shares during the last quarter. Creative Planning increased its position in Time Warner by 3.8% in the second quarter. Creative Planning now owns 47,553 shares of the media conglomerate’s stock valued at $4,775,000 after buying an additional 1,751 shares during the last quarter. Finally, Havens Advisors LLC increased its position in Time Warner by 32.3% in the second quarter. Havens Advisors LLC now owns 130,000 shares of the media conglomerate’s stock valued at $13,053,000 after buying an additional 31,763 shares during the last quarter. 78.76% of the stock is currently owned by institutional investors and hedge funds.
Time Warner Inc. (NYSE:TWX) traded down 0.01% during mid-day trading on Friday, reaching $101.60. 1,350,022 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $101.12 and its 200-day moving average price is $99.02. The company has a market capitalization of $79.02 billion, a P/E ratio of 18.85 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 released its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The company had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 EPS. On average, equities research analysts expect that Time Warner Inc. will post $6.10 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, July 6th. Time Warner’s dividend payout ratio (DPR) is presently 29.98%.
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Several equities analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed a “hold” rating and set a $108.00 price objective on shares of Time Warner in a report on Tuesday. Zacks Investment Research cut shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Evercore ISI cut shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 target price for the company. in a research report on Monday, August 7th. Barclays PLC cut shares of Time Warner from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $95.00 to $107.00 in a research report on Friday, August 4th. Finally, Cowen and Company reiterated a “hold” rating and issued a $107.50 target price on shares of Time Warner in a research report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.25.
In other news, CFO Howard M. Averill acquired 255 shares of Time Warner stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average cost of $99.67 per share, for a total transaction of $25,415.85. Following the completion of the purchase, the chief financial officer now directly owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.16% of the company’s stock.
Time Warner Company 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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