Parallel Advisors LLC Buys 1,433 Shares of Time Warner Inc. (NYSE:TWX)
Parallel Advisors LLC raised its stake in Time Warner Inc. (NYSE:TWX) by 53.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,128 shares of the media conglomerate’s stock after buying an additional 1,433 shares during the period. Parallel Advisors LLC’s holdings in Time Warner were worth $409,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in Time Warner by 8.3% in the first quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock valued at $710,380,000 after buying an additional 556,674 shares in the last quarter. Azimuth Capital Management LLC boosted its position in Time Warner by 0.8% in the first quarter. Azimuth Capital Management LLC now owns 5,760 shares of the media conglomerate’s stock valued at $563,000 after buying an additional 43 shares during the last quarter. Bellwether Investment Group LLC boosted its position in Time Warner by 15.6% in the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after buying an additional 146 shares during the last quarter. Vanguard Group Inc. boosted its position in Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock valued at $4,761,042,000 after buying an additional 1,740,936 shares during the last quarter. Finally, Roosevelt Investment Group Inc. bought a new position in Time Warner during the first quarter valued at approximately $2,877,000. 78.76% of the stock is owned by institutional investors.
Time Warner Inc. (NYSE TWX) traded down 0.41% during trading on Friday, hitting $101.19. 3,416,438 shares of the company traded hands. The firm has a market capitalization of $78.71 billion, a P/E ratio of 18.77 and a beta of 1.05. The stock has a 50-day moving average price of $101.16 and a 200-day moving average price of $99.06. Time Warner Inc. has a 12-month low of $74.27 and a 12-month high of $103.34.
Time Warner (NYSE:TWX) last released its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The company had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the company posted $1.29 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. Equities analysts expect that Time Warner Inc. will post $6.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were given a dividend of $0.4025 per share. The ex-dividend date was Thursday, July 6th. This represents a $1.61 annualized dividend and a dividend yield of 1.59%. Time Warner’s dividend payout ratio is presently 29.98%.
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Several equities analysts recently commented on the stock. BidaskClub upgraded shares of Time Warner from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada restated a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research note on Tuesday. Jefferies Group LLC cut shares of Time Warner from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of Time Warner from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Cowen and Company reiterated a “hold” rating and set 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 issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $102.25.
In related news, CFO Howard M. Averill bought 255 shares of the company’s stock in a transaction on Thursday, June 15th. The shares were acquired at an average cost of $99.67 per share, with a total value of $25,415.85. Following the completion of the acquisition, the chief financial officer now owns 63,399 shares of the company’s stock, valued at approximately $6,318,978.33. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 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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