BTC Capital Management Inc. Sells 44 Shares of Time Warner Inc. (TWX)
BTC Capital Management Inc. lowered its stake in shares of Time Warner Inc. (NYSE:TWX) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,348 shares of the media conglomerate’s stock after selling 44 shares during the period. BTC Capital Management Inc.’s holdings in Time Warner were worth $1,041,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the stock. Assetmark Inc. raised its stake in shares of Time Warner by 10.0% in the first quarter. Assetmark Inc. now owns 2,628 shares of the media conglomerate’s stock valued at $257,000 after buying an additional 239 shares during the period. Stevens First Principles Investment Advisors raised its stake in shares of Time Warner by 52.9% in the first quarter. Stevens First Principles Investment Advisors now owns 2,127 shares of the media conglomerate’s stock valued at $208,000 after buying an additional 736 shares during the period. Lazard Asset Management LLC raised its stake in shares of Time Warner by 18.3% in the first quarter. Lazard Asset Management LLC now owns 292,795 shares of the media conglomerate’s stock valued at $28,608,000 after buying an additional 45,243 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Time Warner by 8.0% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 379,820 shares of the media conglomerate’s stock valued at $37,113,000 after buying an additional 28,153 shares during the period. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Time Warner by 2.4% in the first quarter. Stratos Wealth Partners LTD. now owns 4,746 shares of the media conglomerate’s stock valued at $464,000 after buying an additional 110 shares during the period. Institutional investors own 79.27% of the company’s stock.
Shares of Time Warner Inc. (TWX) opened at 101.34 on Thursday. Time Warner Inc. has a 52 week low of $74.27 and a 52 week high of $103.34. The stock has a 50 day moving average of $101.22 and a 200 day moving average of $99.25. The stock has a market cap of $78.82 billion, a P/E ratio of 18.80 and a beta of 1.05.
Time Warner (NYSE:TWX) last issued its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. Time Warner had a return on equity of 19.14% and a net margin of 14.10%. The firm had revenue of $7.33 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the company earned $1.29 EPS. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts expect that Time Warner Inc. will post $6.10 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Thursday, July 6th. Time Warner’s payout ratio is 29.98%.
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TWX has been the subject of several recent research reports. Morgan Stanley restated an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. BMO Capital Markets reiterated a “hold” rating and issued a $108.00 price target on shares of Time Warner in a research report on Friday, May 19th. Rosenblatt Securities reiterated a “neutral” rating and issued a $105.00 price target on shares of Time Warner in a research report on Wednesday, May 3rd. Zacks Investment Research lowered shares of Time Warner from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $105.00 price target (up from $102.42) on shares of Time Warner in a research report on Sunday, July 30th. One investment 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 issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $102.25.
In other Time Warner news, CFO Howard M. Averill purchased 255 shares of the firm’s stock in a transaction on Thursday, June 15th. The shares were purchased at an average cost of $99.67 per share, with a total value of $25,415.85. Following the purchase, the chief financial officer now owns 63,399 shares in the company, valued at $6,318,978.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.16% of the stock is currently owned by company insiders.
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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