Time Warner Inc. (TWX) Stake Increased by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board raised its stake in Time Warner Inc. (NYSE:TWX) by 624.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,044,346 shares of the media conglomerate’s stock after buying an additional 1,762,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.26% of Time Warner worth $205,273,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Bellwether Investment Group LLC boosted its stake 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. Patriot Financial Group Insurance Agency LLC boosted its stake in Time Warner by 9.9% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock valued at $109,000 after buying an additional 100 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Time Warner during the first quarter valued at $138,000. Archford Capital Strategies LLC boosted its stake in Time Warner by 43.5% in the first quarter. Archford Capital Strategies LLC now owns 1,587 shares of the media conglomerate’s stock valued at $155,000 after buying an additional 481 shares during the last quarter. Finally, City Holding Co. boosted its stake in Time Warner by 7.7% in the second quarter. City Holding Co. now owns 1,715 shares of the media conglomerate’s stock valued at $172,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 79.27% of the company’s stock.
Time Warner Inc. (NYSE:TWX) opened at 101.70 on Tuesday. 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. The company has a market cap of $79.10 billion, a PE ratio of 18.87 and a beta of 1.05.
Time Warner (NYSE:TWX) last posted its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.14. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. Equities research analysts predict that Time Warner Inc. will post $6.10 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were given a dividend of $0.4025 per share. This represents a $1.61 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Thursday, July 6th. Time Warner’s dividend payout ratio (DPR) is 29.98%.
TWX has been the subject of several research analyst reports. BidaskClub upgraded shares of Time Warner from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC downgraded shares of Time Warner from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated a “hold” rating and set a $108.00 price target on shares of Time Warner in a report on Tuesday, August 15th. Zacks Investment Research downgraded shares of Time Warner from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, Barclays PLC downgraded shares of Time Warner from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $95.00 to $107.00 in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Time Warner has an average rating of “Hold” and an average price target of $102.25.
In other Time Warner news, CFO Howard M. Averill bought 255 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were acquired at an average price of $99.67 per share, with a total value of $25,415.85. Following the transaction, 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 is accessible through this hyperlink. Company 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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