Utah Retirement Systems Lowers Position in Time Warner Inc. (TWX)
Utah Retirement Systems trimmed its holdings in Time Warner Inc. (NYSE:TWX) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 142,212 shares of the media conglomerate’s stock after selling 1,900 shares during the period. Utah Retirement Systems’ holdings in Time Warner were worth $14,280,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of TWX. Vanguard Group Inc. lifted its holdings in shares of Time Warner by 3.7% during the 1st quarter. Vanguard Group Inc. now owns 48,726,247 shares of the media conglomerate’s stock worth $4,761,042,000 after acquiring an additional 1,740,936 shares during the period. BlackRock Inc. lifted its holdings in shares of Time Warner by 2,169.2% during the 1st quarter. BlackRock Inc. now owns 42,827,346 shares of the media conglomerate’s stock worth $4,184,660,000 after acquiring an additional 40,940,053 shares during the period. State Street Corp lifted its holdings in shares of Time Warner by 2.1% during the 1st quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after acquiring an additional 688,860 shares during the period. FMR LLC lifted its holdings in shares of Time Warner by 0.6% during the 1st quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after acquiring an additional 68,625 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Time Warner by 8.3% during the 1st quarter. Geode Capital Management LLC now owns 7,281,041 shares of the media conglomerate’s stock worth $710,380,000 after acquiring an additional 556,674 shares during the period. 79.29% of the stock is currently owned by hedge funds and other institutional investors.
In other Time Warner news, CFO Howard M. Averill acquired 255 shares of Time Warner stock in a transaction on Thursday, June 15th. The shares were 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 $6,318,978.33. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is currently owned by insiders.
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Shares of Time Warner Inc. (NYSE TWX) opened at 101.00 on Wednesday. The firm has a 50-day moving average price of $101.65 and a 200-day moving average price of $99.62. Time Warner Inc. has a 1-year low of $74.27 and a 1-year high of $103.34. The company has a market capitalization of $78.56 billion, a PE ratio of 18.74 and a beta of 1.04.
Time Warner (NYSE:TWX) last announced its quarterly earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 earnings per share for the quarter, beating 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 analysts’ expectations of $7.29 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. Equities analysts anticipate that Time Warner Inc. will post $6.10 earnings per share for the current year.
TWX has been the topic of several research reports. Royal Bank Of Canada set a $108.00 price target on shares of Time Warner and gave the company a “hold” rating in a report on Monday, June 12th. Jefferies Group LLC downgraded 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 report on Thursday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Time Warner in a research report on Thursday, July 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research report on Friday, May 19th. Finally, BidaskClub raised shares of Time Warner from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, twenty-six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $102.25.
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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