Cornerstone Capital Management Holdings LLC. decreased its stake in shares of Time Warner Inc. (NYSE:TWX) by 27.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,345 shares of the media conglomerate’s stock after selling 59,111 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Time Warner were worth $15,898,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC boosted its stake in Time Warner by 2.1% during the second quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock worth $100,000 after acquiring an additional 20 shares in the last quarter. Bellwether Investment Group LLC boosted its stake in Time Warner by 15.6% during the first quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock worth $106,000 after acquiring an additional 146 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in Time Warner by 9.9% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,109 shares of the media conglomerate’s stock worth $109,000 after acquiring an additional 100 shares in the last quarter. Harfst & Associates Inc. boosted its stake in Time Warner by 31.6% during the second quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock worth $120,000 after acquiring an additional 288 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in Time Warner during the second quarter worth about $127,000. 79.19% of the stock is currently owned by hedge funds and other institutional investors.
Time Warner Inc. (NYSE TWX) opened at 103.35 on Wednesday. The stock has a market capitalization of $80.39 billion, a PE ratio of 19.17 and a beta of 1.02. Time Warner Inc. has a 12-month low of $78.32 and a 12-month high of $103.90. The stock’s 50 day moving average is $102.03 and its 200 day moving average is $100.29.
Time Warner (NYSE:TWX) last released its earnings results on Wednesday, August 2nd. The media conglomerate reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.14. The company had revenue of $7.33 billion during the quarter, compared to analysts’ expectations of $7.29 billion. Time Warner had a net margin of 14.10% and a return on equity of 19.14%. Time Warner’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the business earned $1.29 EPS. Equities analysts anticipate that Time Warner Inc. will post $6.10 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.4025 dividend. This represents a $1.61 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Friday, October 6th. Time Warner’s dividend payout ratio (DPR) is presently 29.98%.
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TWX has been the topic of several research reports. Credit Suisse Group lowered shares of Time Warner from an “outperform” rating to a “neutral” rating and set a $107.50 price objective on the stock. in a research note on Monday, September 18th. Morgan Stanley reissued an “overweight” rating on shares of Time Warner in a research note on Thursday, July 6th. Sanford C. Bernstein reissued a “market perform” rating on shares of Time Warner in a research note on Tuesday, September 12th. Jefferies Group LLC reissued a “hold” rating and set a $105.00 price objective on shares of Time Warner in a research note on Sunday, September 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Time Warner in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating and seven have assigned a buy rating to the company. Time Warner presently has an average rating of “Hold” and a consensus price target of $102.91.
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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