Johnson Financial Group Inc. Has $571,000 Stake in Time Warner Inc. (TWX)
Johnson Financial Group Inc. reduced its stake in Time Warner Inc. (NYSE:TWX) by 60.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,846 shares of the media conglomerate’s stock after selling 8,819 shares during the period. Johnson Financial Group Inc.’s holdings in Time Warner were worth $571,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC increased its stake in Time Warner by 53.2% in the first quarter. Parallel Advisors LLC now owns 4,128 shares of the media conglomerate’s stock valued at $409,000 after buying an additional 1,433 shares in the last quarter. Geode Capital Management LLC boosted its position 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 during 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. Finally, 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. 78.76% of the stock is owned by institutional investors.
Shares of Time Warner Inc. (TWX) traded down 0.41% during midday trading on Friday, hitting $101.19. 3,416,438 shares of the stock were exchanged. The stock’s 50-day moving average price is $101.16 and its 200-day moving average price is $99.06. The firm has a market capitalization of $78.71 billion, a price-to-earnings ratio of 18.77 and a beta of 1.05. Time Warner Inc. has a 1-year low of $74.27 and a 1-year high of $103.34.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.14. The company had revenue of $7.33 billion for 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%. Time Warner’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.29 EPS. On average, analysts forecast that Time Warner Inc. will post $6.10 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were issued a dividend of $0.4025 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $1.61 dividend on an annualized basis and a dividend yield of 1.59%. Time Warner’s dividend payout ratio is 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 report 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 other news, CFO Howard M. Averill acquired 255 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The shares were bought at an average cost of $99.67 per share, with a total value of $25,415.85. Following the acquisition, the chief financial officer now owns 63,399 shares in the company, valued at approximately $6,318,978.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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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