Time Warner Inc (TWX) Shares Bought by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. boosted its holdings in Time Warner Inc (NYSE:TWX) by 24.1% in the fourth quarter, HoldingsChannel reports. The firm owned 33,041 shares of the media conglomerate’s stock after purchasing an additional 6,422 shares during the period. Oppenheimer & Co. Inc.’s holdings in Time Warner were worth $3,021,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Bank of Nova Scotia Trust Co. bought a new stake in Time Warner in the third quarter worth approximately $102,000. Americafirst Capital Management LLC bought a new stake in Time Warner in the third quarter worth approximately $106,000. Zions Bancorporation increased its holdings in Time Warner by 698.6% in the third quarter. Zions Bancorporation now owns 1,142 shares of the media conglomerate’s stock worth $117,000 after purchasing an additional 999 shares in the last quarter. Advisory Services Network LLC increased its holdings in Time Warner by 1.8% in the second quarter. Advisory Services Network LLC now owns 1,439 shares of the media conglomerate’s stock worth $144,000 after purchasing an additional 26 shares in the last quarter. Finally, Phocas Financial Corp. bought a new stake in Time Warner in the second quarter worth approximately $172,000. Institutional investors and hedge funds own 76.85% of the company’s stock.
TWX has been the subject of a number of research analyst reports. Deutsche Bank reiterated a “buy” rating and issued a $99.00 target price on shares of Time Warner in a report on Friday, November 10th. Zacks Investment Research downgraded Time Warner from a “hold” rating to a “sell” rating in a report on Friday, January 12th. Loop Capital lowered their target price on Time Warner from $107.50 to $102.00 and set a “hold” rating for the company in a report on Thursday, November 9th. Wells Fargo & Co reiterated a “market perform” rating and issued a $84.00 target price (down from $100.00) on shares of Time Warner in a report on Tuesday, November 21st. Finally, Cowen reiterated a “hold” rating and issued a $102.00 target price on shares of Time Warner in a report on Friday, October 27th. Sixteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $104.36.
Time Warner (NYSE:TWX) last released its quarterly earnings data on Thursday, February 1st. The media conglomerate reported $1.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.16. The firm had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.41 billion. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.25 EPS. sell-side analysts expect that Time Warner Inc will post 7.56 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a dividend of $0.4025 per share. The ex-dividend date was Tuesday, January 9th. This represents a $1.61 annualized dividend and a dividend yield of 1.71%. Time Warner’s payout ratio is 29.65%.
In related news, insider Olaf Olafsson sold 23,450 shares of Time Warner stock in a transaction that occurred on Thursday, December 14th. The stock was sold at an average price of $90.03, for a total transaction of $2,111,203.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Deborah C. Wright sold 4,019 shares of Time Warner stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $93.61, for a total value of $376,218.59. Following the transaction, the director now directly owns 27,785 shares in the company, valued at approximately $2,600,953.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 360,966 shares of company stock worth $32,745,250. 0.16% of the stock is owned by insiders.
Time Warner 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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