State of New Jersey Common Pension Fund D boosted its holdings in Time Warner Inc. (NYSE:TWX) by 19.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,810,000 shares of the media conglomerate’s stock after purchasing an additional 300,000 shares during the quarter. Time Warner accounts for about 0.7% of State of New Jersey Common Pension Fund D’s portfolio, making the stock its 21st largest holding. State of New Jersey Common Pension Fund D owned approximately 0.23% of Time Warner worth $185,435,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Jacobi Capital Management LLC raised its position in shares of Time Warner by 2.1% in the 2nd quarter. Jacobi Capital Management LLC now owns 995 shares of the media conglomerate’s stock valued at $100,000 after buying an additional 20 shares in the last quarter. Bellwether Investment Group LLC grew its holdings in shares of Time Warner by 15.6% during the 1st quarter. Bellwether Investment Group LLC now owns 1,083 shares of the media conglomerate’s stock valued at $106,000 after purchasing an additional 146 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Time Warner by 4.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,153 shares of the media conglomerate’s stock valued at $116,000 after purchasing an additional 44 shares during the last quarter. Harfst & Associates Inc. grew its holdings in shares of Time Warner by 31.6% during the 2nd quarter. Harfst & Associates Inc. now owns 1,198 shares of the media conglomerate’s stock valued at $120,000 after purchasing an additional 288 shares during the last quarter. Finally, Captrust Financial Advisors bought a new stake in shares of Time Warner during the 2nd quarter valued at approximately $127,000. Institutional investors and hedge funds own 79.11% of the company’s stock.
Time Warner Inc. (TWX) traded up $3.55 during trading hours on Friday, reaching $90.60. 26,863,602 shares of the company traded hands, compared to its average volume of 11,703,416. The company has a market capitalization of $70,540.52, a PE ratio of 14.95, a P/E/G ratio of 1.43 and a beta of 0.98. Time Warner Inc. has a twelve month low of $85.77 and a twelve month high of $103.90. The company has a current ratio of 1.48, a quick ratio of 1.26 and a debt-to-equity ratio of 0.80.
Time Warner (NYSE:TWX) last announced its quarterly earnings data on Thursday, October 26th. The media conglomerate reported $1.82 EPS for the quarter, beating the consensus estimate of $1.59 by $0.23. The business had revenue of $7.60 billion during the quarter, compared to analyst estimates of $7.40 billion. Time Warner had a return on equity of 18.57% and a net margin of 13.59%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share. analysts predict that Time Warner Inc. will post 6.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.4025 per share. This represents a $1.61 annualized dividend and a yield of 1.78%. The ex-dividend date was Friday, October 6th. Time Warner’s dividend payout ratio is currently 30.73%.
TWX has been the topic of a number of research reports. BidaskClub raised shares of Time Warner from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $99.00 price objective on shares of Time Warner in a research note on Friday. Barclays PLC lowered shares of Time Warner from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $95.00 to $107.00 in a research note on Friday, August 4th. BMO Capital Markets reaffirmed a “hold” rating and issued a $108.00 price objective on shares of Time Warner in a research note on Wednesday, September 13th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $107.50 price objective on shares of Time Warner in a research note on Thursday, August 3rd. Twenty-four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $104.02.
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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