Solaris Asset Management LLC Raises Stake in Time Warner Inc. (TWX)
Solaris Asset Management LLC raised its position in Time Warner Inc. (NYSE:TWX) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 38,425 shares of the media conglomerate’s stock after buying an additional 200 shares during the period. Time Warner makes up 2.4% of Solaris Asset Management LLC’s holdings, making the stock its 17th largest position. Solaris Asset Management LLC’s holdings in Time Warner were worth $3,858,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Time Warner by 3.7% in the first quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock worth $4,761,042,000 after buying an additional 1,740,936 shares during the period. BlackRock Inc. boosted its stake in shares of Time Warner by 2,169.2% in the first quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock worth $4,184,660,000 after buying an additional 40,940,053 shares during the period. State Street Corp boosted its stake in shares of Time Warner by 2.1% in the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after buying an additional 688,860 shares during the period. FMR LLC boosted its stake in shares of Time Warner by 0.6% in the first quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after buying an additional 68,625 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of 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 worth $710,380,000 after buying an additional 556,674 shares during the period. 78.76% of the stock is currently owned by institutional investors.
Time Warner Inc. (NYSE TWX) opened at 101.42 on Monday. The company has a market cap of $78.88 billion, a price-to-earnings ratio of 18.82 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. The stock’s 50 day moving average is $101.22 and its 200 day moving average is $99.25.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating the 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 quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Equities research analysts forecast that Time Warner Inc. will post $6.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a $0.4025 dividend. 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 payout ratio is 29.98%.
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A number of analysts have weighed in on TWX shares. BidaskClub cut shares of Time Warner from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reissued a “hold” rating and set a $108.00 target price on shares of Time Warner in a report on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating and set a $105.00 target price on shares of Time Warner in a report on Monday, May 22nd. Cowen and Company reissued a “hold” rating and set a $107.50 target price on shares of Time Warner in a report on Thursday, August 3rd. Finally, Evercore ISI cut shares of Time Warner from an “outperform” rating to an “in-line” rating and set a $108.00 target price on the stock. in a report on Monday, August 7th. One research 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 issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $102.25.
In related news, CFO Howard M. Averill purchased 255 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was bought at an average price of $99.67 per share, with a total value of $25,415.85. Following the completion of the purchase, 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 filing with the SEC, which is accessible through this hyperlink. 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 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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