Clear Perspective Advisors LLC Has $1.28 Million Position in Time Warner Inc. (TWX)
Clear Perspective Advisors LLC cut its position in shares of Time Warner Inc. (NYSE:TWX) by 5.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,702 shares of the media conglomerate’s stock after selling 790 shares during the quarter. Time Warner makes up about 1.1% of Clear Perspective Advisors LLC’s holdings, making the stock its 23rd biggest position. Clear Perspective Advisors LLC’s holdings in Time Warner were worth $1,275,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Time Warner by 2.3% during the second quarter. Vanguard Group Inc. now owns 49,843,065 shares of the media conglomerate’s stock worth $5,004,741,000 after purchasing an additional 1,116,818 shares during the last quarter. BlackRock Inc. boosted its holdings in Time Warner by 4.0% during the second quarter. BlackRock Inc. now owns 44,524,027 shares of the media conglomerate’s stock worth $4,470,656,000 after purchasing an additional 1,696,681 shares during the last quarter. State Street Corp boosted its holdings in Time Warner by 2.1% during the first quarter. State Street Corp now owns 32,749,966 shares of the media conglomerate’s stock worth $3,199,990,000 after purchasing an additional 688,860 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Time Warner by 0.4% during the second quarter. Franklin Resources Inc. now owns 12,344,260 shares of the media conglomerate’s stock worth $1,239,484,000 after purchasing an additional 51,596 shares during the last quarter. Finally, FMR LLC boosted its holdings in Time Warner by 0.6% during the first quarter. FMR LLC now owns 11,932,302 shares of the media conglomerate’s stock worth $1,165,905,000 after purchasing an additional 68,625 shares during the last quarter. Institutional investors and hedge funds own 79.19% of the company’s stock.
TWX has been the topic of several analyst reports. BidaskClub upgraded shares of Time Warner from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research upgraded shares of Time Warner from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a report on Thursday, July 13th. Barclays PLC cut shares of Time Warner from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $95.00 to $107.00 in a report on Friday, August 4th. Jefferies Group LLC reiterated a “hold” rating and issued a $105.00 target price (up from $102.42) on shares of Time Warner in a research note on Sunday, July 30th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $108.00 target price on shares of Time Warner in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating and seven have issued a buy rating to the company’s stock. Time Warner currently has a consensus rating of “Hold” and a consensus price target of $102.91.
Shares of Time Warner Inc. (NYSE TWX) opened at 103.35 on Wednesday. The stock has a 50 day moving average of $102.03 and a 200 day moving average of $100.29. The company has a market cap of $80.39 billion, a price-to-earnings ratio of 19.17 and a beta of 1.02. Time Warner Inc. has a 52-week low of $78.32 and a 52-week high of $103.90.
Time Warner (NYSE:TWX) last posted its quarterly earnings data 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. 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 earnings per share. On average, equities research analysts expect that Time Warner Inc. will post $6.10 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Friday, October 6th. Time Warner’s dividend payout ratio is currently 29.98%.
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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